Parkes, D. 1999b. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence.  Home/Search   Document Details and Download   Summary   Related Articles   Check

....Can the bidders use this information to regulate their information about their own values Probably, but how much do they win If one cannot guarantee that deliberate loss of privacy will decrease the cognitive costs, it is better not to lose any. Cognitive cost is modeled in some publications [Par99,LS01], but there the authors are more concerned about the agents doing the computations, not the human beings. Therefore, we argue that when constructing an online auction mechanism, one should first make sure that the auction is Pareto efficient, correct and (almost ideally) privacy preserving. The ....

....cognitive costs in online auctions is by Parkes, Ungar and Foster [PUF98] Their paper analyzed the existing mechanisms from this aspect and concluded that the English auctions are the best in the context of bounded rationality. It has followed by a large body of research in this direction, see [Par99,LS01] for some examples and further references. However, most of the papers in this line of research do not actually propose new mechanisms, but instead propose criteria on how to choose between already existing and well known mechanisms. Moreover, the mentioned papers are more concerns about fully ....

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David C. Parkes. Optimal Auction Design for Agents with Hard Valuation Problems. In Alexandros Moukas, Carles Sierra, and Fredrik Ygge, editors, Agent Mediated Electronic Commerce II, Towards Next-Generation Agent-Based Electronic Commerce Systems, IJCAI 1999 Workshop, volume 1788 of Lecture Notes in Computer Science, pages 206--219. Springer-Verlag, 1999.

....received much less attention, is that of bidding. There are 2 1 bundles, and each bidder may need to bid on all of them to fully express its preferences. This can be undesirable for any of several reasons: 1a) determining one s valuation for any given bundle can be computationally intractable [21, 23, 17, 14]; 1b) there is a huge number of bundles to evaluate; 2) communicating the bids can incur prohibitive overhead (e.g. network traffic) and (3) bidders may prefer Dr. Sandholm s work was funded by, and conducted at, CombineNet, Inc. 311 S. Craig St. Pittsburgh, PA 15213. not to reveal all of ....

David C Parkes. Optimal auction design for agents with hard valuation problems. In AgentMediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

....has received much less attention, is that of bidding. There are 2 1 bundles, and each agent may need to bid on all of them to fully express its preferences. This can be undesirable for any of several reasons: determining one s valuation for any given bundle can be computationally intractable [9, 13,17]; there is a huge number of bundles to evaluate; communicating the bids can incur prohibitive overhead (e.g. network traffic) and agents may prefer not to reveal all of their valuation information due to reasons of privacy or long term competitiveness [16] Appropriate bidding languages [7, 8, ....

D. C. Parkes. Optimal auction design for agents with hard valuation problems. AgentMediated Electronic Commerce Workshop at IJCAI, 1999.

....has received much less attention, is that of bidding. There are # bundles, and each agent may need to bid on all of them to fully express its preferences. This can be undesirable for any of several reasons: determining one s valuation for any given bundle can be computationally intractable [10,11,16,21, 23]; there is a huge number of bundles to evaluate; communicating the bids can incur prohibitive overhead (e.g. network traffic) and agents may prefer not to reveal all of their valuation information due to reasons of privacy or long term competitiveness [20] Appropriate bidding languages [7, 9, ....

David C Parkes. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

....received much less attention, is that of bidding. There are 2 1 bundles, and each agent may need to bid on all of them to fully express its preferences. This can be undesirable for any of several reasons: 1a) determining one s valuation for any given bundle can be computationally intractable [19, 21, 15, 12]; 1b) there is a huge number of bundles to evaluate; 2) communicating the bids can incur prohibitive overhead (e.g. network traffic) and (3) agents may prefer not to reveal all of their valuation information due to reasons of privacy or long term competitiveness. Appropriate bidding languages ....

David C Parkes. Optimal auction design for agents with hard valuation problems. In AgentMediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

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D. C. Parkes. Optimal auction design for agents with hard valuation problems. In Proc. IJCAI-99 Workshop on Agent Mediated Electronic Commerce, pages 206--219, July 1999. Stockholm.

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David C Parkes. Optimal auction design for agents with hard valuation problems. In Proc. IJCAI-99 Workshop on Agent Mediated Electronic Commerce, July 1999. Stockholm.

....study of a POMDP model to construct offline approximations to sequentially optimal preference elicitation policies, again in single agent environments. The role of iterative auctions in addressing preference elicitation costs has been previously modeled for single item and multi item problems [Par99, Par01]. Recent theoretical analysis [CJ00] for a simple preference elicitation model in which agents can refine their valuations once, also supports the allocative efficiency benefits of iterative auctions for agents with costly preference elicitation. A key motivation for ascending price ....

David C Parkes. Optimal auction design for agents with hard valuation problems. In Proc. IJCAI-99 Workshop on Agent Mediated Electronic Commerce, pages 206--219, July 1999. Stockholm.

....has practical significance because it addresses the computational and informational complexity of bundle auctions. For agents, the auction can terminate before agents have revealed (or even computed) their values for every bundle. This can be important when agents have hard valuation problems [15, 16]. Furthermore, the auc tioneer only needs to generate explicit prices on a subset of bundles and often solves smaller winner determination problems than in the classic sealed bid bundle auction (the Generalized Vickrey Auction [23] Also relevant, because the winner determination problem remains ....

....to tradeoff allocative efficiency for computation and communication cost will be important in practical applications. Iterative auctions can allow more efficient computation than sealed bid auctions when agents have hard valuation problems, and this can lead to higher allocative efficiency [15]. Bundle can generate solutions without information from agents on their value for every bundle. Agents only need to determine the bundles that maximize utility given prices to be able follow a best response bidding strategy, and this can be done with approximate values for bundles. Although ....

Parkes, D.C. Optimal auction design for agents with hard valuation problems. In Proc. 2nd Workshop on Agent Mediated Electronic Commerce (AmEC-99) (July 1999). Stockholm.

....strategies. In particular, the free riding problem that characterizes equilibrium strategies in other ascending combinatorial auctions [8, 12, 39] is not a problem in BEA. Ascending price auctions can avoid the high cost of information revelation that is required in efficient sealed bid mechanisms [44, 48, 6, 14]. In many interesting problems there is a cost associated with determining the value for a set of items [4] perhaps the bidder in the wireless spectrum auction must determine a new business plan to understand the value of any particular combination of licenses; perhaps the bidder in the ....

....to group minimal CE pces. Proo The special structure provided by NTV prices lows a simplification of the combinatorial constraints in [RD CS ] from which the connection between adjusted CE prices and Vickrey payments is immediate. The full proof is in the Appendix. This explns why Bundle(3) [44, 48] d Ausubel Milgrom s ascending proxy auction can compute the Vickrey outcome when agents are substitutes. In both auctions agents bid prices e approximate NTV prices, d both auctions terminate in competitive equilibrium. The surplus from NTV prices is related to the surplus from Quasi CE ....

David C Parkes. Optimal auction design for agents with hard valuation problems. In Proc. IJCAI-99 Workshop on Agent Mediated Electronic Commerce, pages 206-219, July 1999. Stockholm.

....value for different outcomes. Iterative auctions are useful in these settings, because they allow participants to consider the accuracy to which they should refine their values, and in which parts of the outcome space to focus, all in response to feedback about the bids from other participants [4]. Preference elicitation has previously been considered in the context of iterative combinatorial auctions (e.g. 5, 2] In this paper, we examine the preference elicitation properties of iterative multiattribute auctions, and in particular we consider the effect Harvard College, Cambridge, MA ....

D.C. Parkes. Optimal auction design for agents with hard valuation problems. In Proc. IJCAI-99 Workshop on Agent Mediated Electronic Commerce, pages 206-219, July 1999. Stockhohn.

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Parkes, D. 1999b. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence.

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David C. Parkes. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999b.

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David C Parkes. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

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D. Parkes, Optimal auction design for agents with hard valuation problems - long version, Proc. IJCAI'99 Workshop on Agent Mediated Electronic Commerce (1999). 69 BIBLIOGRAPHY 70

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D. C. Parkes. Optimal auction design for agents with hard valuation problems. Agent-Mediated Electronic Commerce Workshop at IJCAI, 1999.

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D. C. Parkes. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

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David C. Parkes. Optimal auction design for agents with hard valuation problems. In Proceedings of the Agent Mediated Electronic Commerce (IJCAI Workshop), Stockholm, Sweden, pages 206--219, July 1999.

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Parkes, David C. (2000). "Optimal Auction Design for Agents with Hard Valuation Problems," Agent Mediated Electronic Commerce (IJCAI Workshop)

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David C Parkes. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

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D. C Parkes. Optimal auction design for agents with hard valuation problems. Agent Mediated Electronic Commerce II: Towards Next-Generation Agent Based Electronic Commerce Systems, LNAI, 1788, 2000.

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David C Parkes. Optimal auction design for agents with hard valuation problems. IJCAI-99 Agent-Mediated Electronic Commerce Workshop.

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Parkes, D.C.: Optimal auction design for agents with hard valuation problems. In: Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden (1999)

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David C Parkes. Optimal auction design for agents with hard valuation problems. AMEC Workshop, IJCAI, 1999.

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David C Parkes. Optimal auction design for agents with hard valuation problems. In Agent-Mediated Electronic Commerce Workshop at the International Joint Conference on Artificial Intelligence, Stockholm, Sweden, 1999.

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