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arXiv · 1212.2825

Near-Optimal Multi-Unit Auctions with Ordered Bidders

Elias Koutsoupias·Stefano Leonardi·Tim Roughgarden
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Abstract

We construct prior-free auctions with constant-factor approximation guarantees with ordered bidders, in both unlimited and limited supply settings. We compare the expected revenue of our auctions on a bid vector to the monotone price benchmark, the maximum revenue that can be obtained from a bid vector using supply-respecting prices that are nonincreasing in the bidder ordering and bounded above by the second-highest bid. As a consequence, our auctions are simultaneously near-optimal in a wide range of Bayesian multi-unit environments.

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Elias Koutsoupias, Stefano Leonardi, Tim Roughgarden. 2012-12-12. Near-Optimal Multi-Unit Auctions with Ordered Bidders. https://arxiv.org/abs/1212.2825

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