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arXiv · 1203.5945

Bayesian Auctions with Friends and Foes

Po-An Chen·David Kempe
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Abstract

We study auctions whose bidders are embedded in a social or economic network. As a result, even bidders who do not win the auction themselves might derive utility from the auction, namely, when a friend wins. On the other hand, when an enemy or competitor wins, a bidder might derive negative utility. Such spite and altruism will alter the bidding strategies. A simple and natural model for bidders' utilities in these settings posits that the utility of a losing bidder i as a result of bidder j winning is a constant (positive or negative) fraction of bidder j's utility.

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Po-An Chen, David Kempe. 2012-04-11. Bayesian Auctions with Friends and Foes. https://arxiv.org/abs/1203.5945

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