Adversarial learning in revenue-maximizing auctions

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

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.

Original languageEnglish
Title of host publication20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021
PublisherInternational Foundation for Autonomous Agents and Multiagent Systems (IFAAMAS)
Pages943-951
Number of pages9
ISBN (Electronic)9781713832621
Publication statusPublished - 1 Jan 2021
Externally publishedYes
Event20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021 - Virtual, Online
Duration: 3 May 20217 May 2021

Publication series

NameProceedings of the International Joint Conference on Autonomous Agents and Multiagent Systems, AAMAS
Volume2
ISSN (Print)1548-8403
ISSN (Electronic)1558-2914

Conference

Conference20th International Conference on Autonomous Agents and Multiagent Systems, AAMAS 2021
CityVirtual, Online
Period3/05/217/05/21

Keywords

  • Adversarial learning
  • Auction theory
  • Strategic bidder

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