Regret minimization for reserve prices in second-price auctions

Nicolò Cesa-Bianchi; Claudio Gentile; Yishay Mansour

doi:10.1137/1.9781611973105.86

Regret minimization for reserve prices in second-price auctions

Nicolò Cesa-Bianchi, Claudio Gentile, Yishay Mansour

School of Computer Science

Tel Aviv University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

We show a regret minimization algorithm for setting the reserve price in second-price auctions. We make the assumption that all bidders draw their bids from the same unknown and arbitrary distribution. Our algorithm is computationally efficient, and achieves a regret of Õ(√T), even when the number of bidders is stochastic with a known distribution.

Original language	English
Title of host publication	Proceedings of the 24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013
Publisher	Association for Computing Machinery
Pages	1190-1204
Number of pages	15
ISBN (Print)	9781611972511
DOIs	https://doi.org/10.1137/1.9781611973105.86
State	Published - 2013
Event	24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013 - New Orleans, LA, United States Duration: 6 Jan 2013 → 8 Jan 2013

Publication series

Name	Proceedings of the Annual ACM-SIAM Symposium on Discrete Algorithms

Conference

Conference	24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013
Country/Territory	United States
City	New Orleans, LA
Period	6/01/13 → 8/01/13

All Science Journal Classification (ASJC) codes

Software
General Mathematics

Access to Document

10.1137/1.9781611973105.86

Cite this

Cesa-Bianchi, N., Gentile, C., & Mansour, Y. (2013). Regret minimization for reserve prices in second-price auctions. In Proceedings of the 24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013 (pp. 1190-1204). (Proceedings of the Annual ACM-SIAM Symposium on Discrete Algorithms). Association for Computing Machinery. https://doi.org/10.1137/1.9781611973105.86

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title = "Regret minimization for reserve prices in second-price auctions",

abstract = "We show a regret minimization algorithm for setting the reserve price in second-price auctions. We make the assumption that all bidders draw their bids from the same unknown and arbitrary distribution. Our algorithm is computationally efficient, and achieves a regret of {\~O}(√T), even when the number of bidders is stochastic with a known distribution.",

author = "Nicol{\`o} Cesa-Bianchi and Claudio Gentile and Yishay Mansour",

year = "2013",

doi = "10.1137/1.9781611973105.86",

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booktitle = "Proceedings of the 24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013",

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Cesa-Bianchi, N, Gentile, C & Mansour, Y 2013, Regret minimization for reserve prices in second-price auctions. in Proceedings of the 24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013. Proceedings of the Annual ACM-SIAM Symposium on Discrete Algorithms, Association for Computing Machinery, pp. 1190-1204, 24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013, New Orleans, LA, United States, 6/01/13. https://doi.org/10.1137/1.9781611973105.86

Regret minimization for reserve prices in second-price auctions. / Cesa-Bianchi, Nicolò; Gentile, Claudio; Mansour, Yishay.
Proceedings of the 24th Annual ACM-SIAM Symposium on Discrete Algorithms, SODA 2013. Association for Computing Machinery, 2013. p. 1190-1204 (Proceedings of the Annual ACM-SIAM Symposium on Discrete Algorithms).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - We show a regret minimization algorithm for setting the reserve price in second-price auctions. We make the assumption that all bidders draw their bids from the same unknown and arbitrary distribution. Our algorithm is computationally efficient, and achieves a regret of Õ(√T), even when the number of bidders is stochastic with a known distribution.

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Regret minimization for reserve prices in second-price auctions

Abstract

Publication series

Conference

All Science Journal Classification (ASJC) codes

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