arXivDaily arXiv每日学术速递 周一至周五更新
arXiv周末暂无论文更新,休息一下吧,周末愉快~~
arXiv 1607.04362cs.GT
收藏

价值最大化者的机制设计

Mechanism Design for Value Maximizers

Christopher A Wilkens, Ruggiero Cavallo, Rad Niazadeh, Samuel Taggart

摘要:

在许多情况下,货币是一种具有最小内在效用的交换工具-代理人将在合理的约束下以最大化所收到的商品价值的方式使用货币,只考虑价值和价格之间的权衡。虽然这一观点在消费者选择理论、市场均衡理论和其他领域中普遍存在,但在机制设计文献中却明显缺失-在有货币的机制中制定战略的代理人几乎总是假定通过准线性估值将货币作为目标。我们研究了一个简单的模型,捕捉在线广告商和其他代理人可能只把钱作为一个约束条件,并研究一般问题的机制设计,这样的代理商的价值最大化。我们发现,可行的和最佳的点所面临的机制设计师的变化显着从准线性领域,并奠定了基础,更广泛的研究价值最大化的机制设计。一路上,我们提供了新的见解,普遍使用的第二价格(GSP)拍卖在互联网广告。通过价值最大化的镜头,普惠制变成了一个真实的拍卖,在其原则和优雅的简单。

英文摘要:

In many settings, money is a tool of exchange with minimal inherent utility --- agents will spend it in a way that maximizes the value of goods received subject to reasonable constraints, giving only second-order consideration to the trade-off between value and price. While this perspective is commonly captured in consumer choice theory, market equilibrium theory, and other fields, it is markedly absent from the mechanism design literature --- agents strategizing in a mechanism with money are almost always assumed to incorporate money as an objective through quasilinear valuations. We study a simple model of value maximizers that captures online advertisers and other agents who may view money solely as a constraint, and study general questions of mechanism design for such agents. We show that the feasible and optimal points faced by a mechanism designer change dramatically from the quasilinear realm and lay a foundation for a broader study of value maximization in mechanism design. Along the way, we offer new insight into the generalized second price (GSP) auction commonly used in Internet advertising. Through the lens of value maximization, GSP metamorphosizes into a truthful auction, sound in its principles and elegant in its simplicity.

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。

↑