Setting discrete bid levels adaptively in repeated auctions

• Main Authors: ZHANG, Jilian, LAU, Hoong Chuin, SHEN, Jialie
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2009
• Subjects: Adaptive auction; Bid levels; Greedy method; Kernel density estimation; Artificial Intelligence and Robotics; Databases and Information Systems; Operations Research, Systems Engineering and Industrial Engineering
• Online Access: https://ink.library.smu.edu.sg/sis_research/517; https://ink.library.smu.edu.sg/context/sis_research/article/1516/viewcontent/p195_zhang.pdf
• Institution: Singapore Management University

The success of an auction design often hinges on its ability to set parameters such as reserve price and bid levels that will maximize an objective function such as the auctioneer revenue. Works on designing adaptive auction mechanisms have emerged recently, and the challenge is in learning differen...