1,549 research outputs found
FlexAuc: Serving Dynamic Demands in a Spectrum Trading Market with Flexible Auction
In secondary spectrum trading markets, auctions are widely used by spectrum
holders (SHs) to redistribute their unused channels to secondary wireless
service providers (WSPs). As sellers, the SHs design proper auction schemes to
stimulate more participants and maximize the revenue from the auction. As
buyers, the WSPs determine the bidding strategies in the auction to better
serve their end users.
In this paper, we consider a three-layered spectrum trading market consisting
of the SH, the WSPs and the end users. We jointly study the strategies of the
three parties. The SH determines the auction scheme and spectrum supplies to
optimize its revenue. The WSPs have flexible bidding strategies in terms of
both demands and valuations considering the strategies of the end users. We
design FlexAuc, a novel auction mechanism for this market to enable dynamic
supplies and demands in the auction. We prove theoretically that FlexAuc not
only maximizes the social welfare but also preserves other nice properties such
as truthfulness and computational tractability.Comment: 11 pages, 7 figures, Preliminary version accepted in INFOCOM 201
MUDA: A Truthful Multi-Unit Double-Auction Mechanism
In a seminal paper, McAfee (1992) presented a truthful mechanism for double
auctions, attaining asymptotically-optimal gain-from-trade without any prior
information on the valuations of the traders. McAfee's mechanism handles
single-parametric agents, allowing each seller to sell a single unit and each
buyer to buy a single unit. This paper presents a double-auction mechanism that
handles multi-parametric agents and allows multiple units per trader, as long
as the valuation functions of all traders have decreasing marginal returns. The
mechanism is prior-free, ex-post individually-rational, dominant-strategy
truthful and strongly-budget-balanced. Its gain-from-trade approaches the
optimum when the market size is sufficiently large.Comment: Accepted to the AAAI2018 conferenc
Integration of Blockchain and Auction Models: A Survey, Some Applications, and Challenges
In recent years, blockchain has gained widespread attention as an emerging
technology for decentralization, transparency, and immutability in advancing
online activities over public networks. As an essential market process,
auctions have been well studied and applied in many business fields due to
their efficiency and contributions to fair trade. Complementary features
between blockchain and auction models trigger a great potential for research
and innovation. On the one hand, the decentralized nature of blockchain can
provide a trustworthy, secure, and cost-effective mechanism to manage the
auction process; on the other hand, auction models can be utilized to design
incentive and consensus protocols in blockchain architectures. These
opportunities have attracted enormous research and innovation activities in
both academia and industry; however, there is a lack of an in-depth review of
existing solutions and achievements. In this paper, we conduct a comprehensive
state-of-the-art survey of these two research topics. We review the existing
solutions for integrating blockchain and auction models, with some
application-oriented taxonomies generated. Additionally, we highlight some open
research challenges and future directions towards integrated blockchain-auction
models
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