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Record W2944781891 · doi:10.48550/arxiv.1905.03773

The Vickrey Auction with a Single Duplicate Bidder Approximates the Optimal Revenue

2019· preprint· en· W2944781891 on OpenAlexaff
Hu Fu, Christopher Liaw, Sikander Randhawa

Bibliographic record

VenuearXiv (Cornell University) · 2019
Typepreprint
Languageen
FieldDecision Sciences
TopicAuction Theory and Applications
Canadian institutionsUniversity of British Columbia
Fundersnot available
KeywordsVickrey auctionVickrey–Clarke–Groves auctionGeneralized second-price auctionAuction theoryRevenueRevenue equivalenceMathematical economicsEnglish auctionComputer scienceCommon value auctionEconomicsMicroeconomicsFinance

Abstract

fetched live from OpenAlex

Bulow and Klemperer's well-known result states that, in a single-item auction where the $n$ bidders' values are independently and identically drawn from a regular distribution, the Vickrey auction with one additional bidder (a duplicate) extracts at least as much revenue as the optimal auction without the duplicate. Hartline and Roughgarden, in their influential 2009 paper, removed the requirement that the distributions be identical, at the cost of allowing the Vickrey auction to recruit $n$ duplicates, one from each distribution, and relaxing its revenue advantage to a $2$-approximation. In this work we restore Bulow and Klemperer's number of duplicates in Hartline and Roughgarden's more general setting with a worse approximation ratio. We show that recruiting a duplicate from one of the distributions suffices for the Vickrey auction to $10$-approximate the optimal revenue. We also show that in a $k$-items unit demand auction, recruiting $k$ duplicates suffices for the VCG auction to $O(1)$-approximate the optimal revenue. As another result, we tighten the analysis for Hartline and Roughgarden's Vickrey auction with $n$ duplicates for the case with two bidders in the auction. We show that in this case the Vickrey auction with two duplicates obtains at least $3/4$ of the optimal revenue. This is tight by meeting a lower bound by Hartline and Roughgarden. En route, we obtain a transparent analysis of their $2$-approximation for $n$~bidders, via a natural connection to Ronen's lookahead auction.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesInsufficient payload (model declined to judge)
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Simulation or modeling · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.622
Threshold uncertainty score1.000

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0000.001
Science and technology studies0.0010.001
Scholarly communication0.0000.000
Open science0.0020.001
Research integrity0.0000.001
Insufficient payload (model declined to judge)0.0000.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.169
GPT teacher head0.243
Teacher spread0.075 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

Study designSimulation or modeling
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations2
Published2019
Admission routes1
Has abstractyes

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