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Theoretical Computer Science
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Theoretical Computer Science
Article . 2004
License: Elsevier Non-Commercial
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Theoretical Computer Science
Article . 2004 . Peer-reviewed
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Online learning in online auctions

Authors: Avrim Blum; Vijay Kumar; Atri Rudra; Felix Wu;

Online learning in online auctions

Abstract

We consider the problem of revenue maximization in online auctions, that is, auctions in which bids are received and dealt with one-by-one. In this note, we demonstrate that results from online learning can be usefully applied in this context, and we derive a new auction for digital goods that achieves a constant competitive ratio with respect to the best possible (offline) fixed price revenue. We are primarily concerned with auctions for a single good available in unlimited supply, often described as a digital good, though our techniques may also be useful for the case of limited supply. The problem of designing online auctions for digital goods was first described by Bar- Yossef et al. [3], one of a number of recent papers interested in analyzing revenue-maximizing auctions without making statistical assumptions about the participating bidders [2, 6, 8, 10].

Keywords

Auctions, bargaining, bidding and selling, and other market models, FOS: Computer and information sciences, Learning theory, Learning and adaptive systems in artificial intelligence, Online algorithms, auctions, 89999 Information and Computing Sciences not elsewhere classified, Theoretical Computer Science, Computer Science(all)

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    popularity
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    influence
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    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 10%
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
59
Top 10%
Top 1%
Top 10%
hybrid