TY - GEN
T1 - Adversarial learning in revenue-maximizing auctions
AU - Nedelec, Thomas
AU - Baudet, Jules
AU - Perchet, Vianney
AU - El Karoui, Noureddine
N1 - Publisher Copyright:
© 2021 International Foundation for Autonomous Agents and Multiagent Systems (www.ifaamas.org). All rights reserved.
PY - 2021/1/1
Y1 - 2021/1/1
N2 - We introduce a new numerical framework to learn optimal bidding strategies in repeated auctions when the seller uses past bids to optimize her mechanism. Crucially, we do not assume that the bidders know which optimization mechanism is used by the seller. We recover essentially all state-of-the-art analytical results for the single-item framework derived previously in the setup where the bidder knows the optimization mechanism used by the seller and extend our approach to multi-item settings, in which no optimal shading strategies were previously known. Our approach yields substantial increases in bidder utility in all settings and has a strong potential for practical usage since it provides a simple way to optimize bidding strategies on modern marketplaces where buyers face unknown data-driven mechanisms.
AB - We introduce a new numerical framework to learn optimal bidding strategies in repeated auctions when the seller uses past bids to optimize her mechanism. Crucially, we do not assume that the bidders know which optimization mechanism is used by the seller. We recover essentially all state-of-the-art analytical results for the single-item framework derived previously in the setup where the bidder knows the optimization mechanism used by the seller and extend our approach to multi-item settings, in which no optimal shading strategies were previously known. Our approach yields substantial increases in bidder utility in all settings and has a strong potential for practical usage since it provides a simple way to optimize bidding strategies on modern marketplaces where buyers face unknown data-driven mechanisms.
KW - Adversarial learning
KW - Auction theory
KW - Strategic bidder
UR - https://www.scopus.com/pages/publications/85112439434
M3 - Conference contribution
AN - SCOPUS:85112439434
T3 - Proceedings of the International Joint Conference on Autonomous Agents and Multiagent Systems, AAMAS
SP - 943
EP - 951
BT - 20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021
PB - International Foundation for Autonomous Agents and Multiagent Systems (IFAAMAS)
T2 - 20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021
Y2 - 3 May 2021 through 7 May 2021
ER -