Position Auctions with Budgets: Existence and Uniqueness
نویسندگان
چکیده
منابع مشابه
Position Auctions with Budgets: Existence and Uniqueness
We design a Generalized Position Auction for players with private values and private budget constraints. Our Mechanism is a careful modification of the Generalized English Auction of Edelman, Ostrovsky and Schwarz (2007). By enabling multiple price trajectories that ascent concurrently we are able to retrieve all the desired propertied of the Generalized English Auction, that was not originally...
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We consider budget constrained combinatorial auctions where bidder i has a private value vi for each of the items in some set Si, agent i also has a budget constraint bi. The value to agent i of a set of items R is |R ∩ Si| · vi. Such auctions capture adword auctions, where advertisers offer a bid for those adwords that (hopefully) reach their target audience, and advertisers also have budgets....
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We study the benchmark independent private value auction setting when bidders have endogenously determined budgets. Before bidding, a bidder decides how much money she will borrow. Bidders incur a cost to borrowing. We show that bidders are indifferent between participating in a first-price, second-price and all-pay auction. The all-pay auction gives higher revenue than the first-price auction,...
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We study the problem of designing envy-free sponsored search auctions, where bidders are budgetconstrained. Our primary goal is to design auctions that maximize social welfare and revenue — two classical objectives in auction theory. For this purpose, we characterize envy-freeness with budgets by proving several elementary properties including consistency, monotonicity and transitivity. Based o...
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We consider auctions of indivisible items to unit-demand bidders with budgets. This setting was suggested as an expressive model for single sponsored search auctions. Prior work presented mechanisms that compute bidder-optimal outcomes and are truthful for a restricted set of inputs, i.e., inputs in so-called general position. This condition is easily violated. We provide the first mechanism th...
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ژورنال
عنوان ژورنال: The B.E. Journal of Theoretical Economics
سال: 2010
ISSN: 1935-1704,2194-6124
DOI: 10.2202/1935-1704.1648