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Learning and Collusion in Multi-unit Auctions

NeurIPS 2023 · Bandits and online learning › Online convex optimization and games · approach: Learning for pricing and auctions · 1 citations (OpenAlex)

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Measured effects reported in the paper

What was changedWhereMeasuredEffect
Represent candidate bid vectors as paths in a weighted DAGOffline bidding optimization · Offline repeated multi-unit auctioncomputation time: polynomial timeHelped
Use multiplicative weights over DAG paths with implicit edge-based weight pushingRepeated K-th and (K+1)-st price auctions · Full informationregret: O(v_{i,1}\sqrt{TK^3\log T})Helped
Use an unbiased edge-weight estimator from the selected pathRepeated K-th and (K+1)-st price auctions · Bandit feedbackregret: O(v_{i,1} \cdot \min \{ \sqrt[4]{T^3K^7\log T}, KT\})Helped
Allow other players to choose the bid sequence adversariallyAny player strategy in either auction variant · Full information and bandit feedbackexpected regret lower bound: at least c \cdot v_{i,1} K \sqrt{T}Hurt
Use the (K+1)-st price rather than the K-th priceUniform-price auction · (K+1)-st price auction, n > K hungry playersprice in core-stable profiles without transfers: p(\vec{b}) = 0Hurt
Use the (K+1)-st price rather than the K-th priceUniform-price auction · (K+1)-st price auction, n > K hungry playersprice in core-stable profiles with transfers: p(\vec{b}) = 0Hurt
Use the K-th price rather than the (K+1)-st priceUniform-price auction · K-th price auctionexistence of arbitrarily low-price pure Nash equilibriumHelped
Allow transfers among biddersCore of the (K+1)-st price auction · n > K hungry playerssocial welfare of core-stable allocationsHelped

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