123 research outputs found
LIPIcs, Volume 261, ICALP 2023, Complete Volume
LIPIcs, Volume 261, ICALP 2023, Complete Volum
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Bayesian Auction Design and Approximation
We study two classes of problems within Algorithmic Economics: revenue guarantees of simple mechanisms, and social welfare guarantees of auctions. We develop new structural and algorithmic tools for addressing these problems, and obtain the following results:
In the -unit model, four canonical mechanisms can be classified as: (i) the discriminating group, including Myerson Auction and Sequential Posted-Pricing, and (ii) the anonymous group, including Anonymous Reserve and Anonymous Pricing. We prove that any two mechanisms from the same group have an asymptotically tight revenue gap of 1 + θ(1 /√), while any two mechanisms from the different groups have an asymptotically tight revenue gap of θ(log ).
In the single-item model, we prove a nearly-tight sample complexity of Anonymous Reserve for every value distribution family investigated in the literature: [0, 1]-bounded, [1, ]-bounded, regular, and monotone hazard rate (MHR).
Remarkably, the setting-specific sample complexity poly(⁻¹) depends on the precision ∈ (0, 1), but not on the number of bidders ≥ 1. Further, in the two bounded-support settings, our algorithm allows correlated value distributions. These are in sharp contrast to the previous (nearly-tight) sample complexity results on Myerson Auction.
In the single-item model, we prove that the tight Price of Anarchy/Stability for First Price Auctions are both PoA = PoS = 1 - 1/² ≈ 0.8647
Operational Research: methods and applications
This is the final version. Available on open access from Taylor & Francis via the DOI in this recordThroughout its history, Operational Research has evolved to include methods, models and algorithms that have been applied to a wide range of contexts. This encyclopedic article consists of two main sections: methods and applications. The first summarises the up-to-date knowledge and provides an overview of the state-of-the-art methods and key developments in the various subdomains of the field. The second offers a wide-ranging list of areas where Operational Research has been applied. The article is meant to be read in a nonlinear fashion and used as a point of reference by a diverse pool of readers: academics, researchers, students, and practitioners. The entries within the methods and applications sections are presented in alphabetical order. The authors dedicate this paper to the 2023 Turkey/Syria earthquake victims. We sincerely hope that advances in OR will play a role towards minimising the pain and suffering caused by this and future catastrophes
Operational research:methods and applications
Throughout its history, Operational Research has evolved to include a variety of methods, models and algorithms that have been applied to a diverse and wide range of contexts. This encyclopedic article consists of two main sections: methods and applications. The first aims to summarise the up-to-date knowledge and provide an overview of the state-of-the-art methods and key developments in the various subdomains of the field. The second offers a wide-ranging list of areas where Operational Research has been applied. The article is meant to be read in a nonlinear fashion. It should be used as a point of reference or first-port-of-call for a diverse pool of readers: academics, researchers, students, and practitioners. The entries within the methods and applications sections are presented in alphabetical order
The Power of Two-sided Recruitment in Two-sided Markets
We consider the problem of maximizing the gains from trade (GFT) in two-sided
markets. The seminal impossibility result by Myerson shows that even for
bilateral trade, there is no individually rational (IR), Bayesian incentive
compatible (BIC) and budget balanced (BB) mechanism that can achieve the full
GFT. Moreover, the optimal BIC, IR and BB mechanism that maximizes the GFT is
known to be complex and heavily depends on the prior. In this paper, we pursue
a Bulow-Klemperer-style question, i.e. does augmentation allow for
prior-independent mechanisms to beat the optimal mechanism? Our main result
shows that in the double auction setting with i.i.d. buyers and i.i.d.
sellers, by augmenting buyers and sellers to the market, the GFT of a
simple, dominant strategy incentive compatible (DSIC), and prior-independent
mechanism in the augmented market is least the optimal in the original market,
when the buyers' distribution first-order stochastically dominates the sellers'
distribution. Furthermore, we consider general distributions without the
stochastic dominance assumption. Existing hardness result by Babaioff et al.
shows that no fixed finite number of agents is sufficient for all
distributions. In the paper we provide a parameterized result, showing that
agents suffice, where is the probability that the buyer's
value for the item exceeds the seller's value
Operational Research: Methods and Applications
Throughout its history, Operational Research has evolved to include a variety of methods, models and algorithms that have been applied to a diverse and wide range of contexts. This encyclopedic article consists of two main sections: methods and applications. The first aims to summarise the up-to-date knowledge and provide an overview of the state-of-the-art methods and key developments in the various subdomains of the field. The second offers a wide-ranging list of areas where Operational Research has been applied. The article is meant to be read in a nonlinear fashion. It should be used as a point of reference or first-port-of-call for a diverse pool of readers: academics, researchers, students, and practitioners. The entries within the methods and applications sections are presented in alphabetical order. The authors dedicate this paper to the 2023 Turkey/Syria earthquake victims. We sincerely hope that advances in OR will play a role towards minimising the pain and suffering caused by this and future catastrophes
Operational Research: Methods and Applications
Throughout its history, Operational Research has evolved to include a variety of methods, models and algorithms that have been applied to a diverse and wide range of contexts. This encyclopedic article consists of two main sections: methods and applications. The first aims to summarise the up-to-date knowledge and provide an overview of the state-of-the-art methods and key developments in the various subdomains of the field. The second offers a wide-ranging list of areas where Operational Research has been applied. The article is meant to be read in a nonlinear fashion. It should be used as a point of reference or first-port-of-call for a diverse pool of readers: academics, researchers, students, and practitioners. The entries within the methods and applications sections are presented in alphabetical order
Artificial intelligence for decision making in energy demand-side response
This thesis examines the role and application of data-driven Artificial Intelligence
(AI) approaches for the energy demand-side response (DR). It follows the point of
view of a service provider company/aggregator looking to support its decision-making
and operation. Overall, the study identifies data-driven AI methods as an essential
tool and a key enabler for DR. The thesis is organised into two parts. It first provides
an overview of AI methods utilised for DR applications based on a systematic review
of over 160 papers, 40 commercial initiatives, and 21 large-scale projects. The reviewed work is categorised based on the type of AI algorithm(s) employed and the DR
application area of the AI methods. The end of the first part of the thesis discusses
the advantages and potential limitations of the reviewed AI techniques for different
DR tasks and how they compare to traditional approaches. The second part of the
thesis centres around designing machine learning algorithms for DR. The undertaken
empirical work highlights the importance of data quality for providing fair, robust,
and safe AI systems in DR — a high-stakes domain. It furthers the state of the art
by providing a structured approach for data preparation and data augmentation in
DR to minimise propagating effects in the modelling process. The empirical findings
on residential response behaviour show better response behaviour in households with
internet access, air-conditioning systems, power-intensive appliances, and lower gas
usage. However, some insights raise questions about whether the reported levels of
consumers’ engagement in DR schemes translate to actual curtailment behaviour and
the individual rationale of customer response to DR signals. The presented approach
also proposes a reinforcement learning framework for the decision problem of an aggregator selecting a set of consumers for DR events. This approach can support an
aggregator in leveraging small-scale flexibility resources by providing an automated
end-to-end framework to select the set of consumers for demand curtailment during
Demand-Side Response (DR) signals in a dynamic environment while considering a
long-term view of their selection process
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