2012/12/12 by Koutsoupias, Elias, Leonardi, Stefano, Roughgarden, Tim
#Computer Science and Game Theory (cs.GT) #FOS: Computer and information sciences
paper · doi:10.48550/arxiv.1212.2825
We construct prior-free auctions with constant-factor approximation guarantees with ordered bidders, in both unlimited and limited supply settings. We compare the expected revenue of our auctions on a bid vector to the monotone price benchmark, the maximum revenue that can be obtained from a bid vector using supply-respecting prices that are nonincreasing in the bidder ordering and bounded above by the second-highest bid. As a consequence, our auctions are simultaneously near-optimal in a wide range of Bayesian multi-unit environments.