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arXiv 1602.07593cs.GT
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非真实位置拍卖对错误指定更具鲁棒性

Non-Truthful Position Auctions Are More Robust to Misspecification

Paul Dütting, Felix Fischer, David C. Parkes

摘要:

在仓位拍卖的标准一维模型中,投标人同意仓位的相对价值,每个投标人提交一个单独的出价,并根据这些价值进行解释。出于目前的做法,在赞助搜索,我们考虑的情况下,拍卖人使用的相对价值,这可能是不精确的估计,并表明,在完整和不完整的信息下,一个不真实的机制是能够支持一个有效的结果,在均衡更广泛的这些估计比VCG机制。因此,我们展示了一个属性的VCG机制,这可能有助于解释令人惊讶的罕见性,它是使用即使在设置与单位需求,相对缺乏鲁棒性的投标语言的错误说明。完全信息条件下的结果涉及广义第二价格机制,并为该机制在实践中的应用提供了额外的理论支持。从技术角度来看,特别有趣的是不完全信息的结果,这是由VCG机制和广义第一价格机制中的均衡出价之间的惊人联系驱动的。

英文摘要:

In the standard single-dimensional model of position auctions, bidders agree on the relative values of the positions and each of them submits a single bid that is interpreted in terms of these values. Motivated by current practice in sponsored search we consider a situation where the auctioneer uses estimates of the relative values, which may be imprecise, and show that under both complete and incomplete information a non-truthful mechanism is able to support an efficient outcome in equilibrium for a wider range of these estimates than the VCG mechanism. We thus exhibit a property of the VCG mechanism that may help explain the surprising rarity with which it is used even in settings with unit demand, a relative lack of robustness to misspecification of the bidding language. The result for complete information concerns the generalized second-price mechanism and lends additional theoretical support to the use of this mechanism in practice. Particularly interesting from a technical perspective is the result for incomplete information, which is driven by a surprising connection between equilibrium bids in the VCG mechanism and the generalized first-price mechanism.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

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