576 research outputs found
Randomized Revenue Monotone Mechanisms for Online Advertising
Online advertising is the main source of revenue for many Internet firms. A
central component of online advertising is the underlying mechanism that
selects and prices the winning ads for a given ad slot. In this paper we study
designing a mechanism for the Combinatorial Auction with Identical Items (CAII)
in which we are interested in selling identical items to a group of bidders
each demanding a certain number of items between and . CAII generalizes
important online advertising scenarios such as image-text and video-pod
auctions [GK14]. In image-text auction we want to fill an advertising slot on a
publisher's web page with either text-ads or a single image-ad and in
video-pod auction we want to fill an advertising break of seconds with
video-ads of possibly different durations.
Our goal is to design truthful mechanisms that satisfy Revenue Monotonicity
(RM). RM is a natural constraint which states that the revenue of a mechanism
should not decrease if the number of participants increases or if a participant
increases her bid.
[GK14] showed that no deterministic RM mechanism can attain PoRM of less than
for CAII, i.e., no deterministic mechanism can attain more than
fraction of the maximum social welfare. [GK14] also design a
mechanism with PoRM of for CAII.
In this paper, we seek to overcome the impossibility result of [GK14] for
deterministic mechanisms by using the power of randomization. We show that by
using randomization, one can attain a constant PoRM. In particular, we design a
randomized RM mechanism with PoRM of for CAII
The effect of social information on the collective choices of ant colonies
© 2016 The Author. In collective decision making, groups collate social information to inform their decisions. Indeed, societies can gather more information than individuals - so social information can be more reliable than private information. Colonies of Temnothorax albipennis can estimate the average quality of fluctuating nest sites when the sharing of social information through recruitment is rare. However, collective decisions in T. albipennis are often reached with the use of recruitment. We use a new experimental setup to test how colonies react to fluctuating nest sites when they use recruitment to reach a decision. When recruitment is used, colonies consistently choose nest sites that fluctuate between being "good" and "poor" over constantly "mediocre" alternatives. Moreover, they do so even if the fluctuating option is only "good" for 25% of the time. The ants' preference for fluctuating nest sites appears to be due to tandem running. Even if a nest site is only briefly "good," scouts that experience it when it is "good" are likely to perform tandem runs to it. However, a constantly "mediocre" nest site is unlikely to ever provoke tandem runs. Consequently, the fluctuating nest sites attracted more tandem runs, even when they were only "good" for a short time. This led to quorum attainment in fluctuating nest sites rather than in constant "mediocre" nest sites. The results of this experiment demonstrate how sharing of social information through recruitment can change the outcome of collective decisions
Welfare and Revenue Guarantees for Competitive Bundling Equilibrium
We study equilibria of markets with heterogeneous indivisible goods and
consumers with combinatorial preferences. It is well known that a
competitive equilibrium is not guaranteed to exist when valuations are not
gross substitutes. Given the widespread use of bundling in real-life markets,
we study its role as a stabilizing and coordinating device by considering the
notion of \emph{competitive bundling equilibrium}: a competitive equilibrium
over the market induced by partitioning the goods for sale into fixed bundles.
Compared to other equilibrium concepts involving bundles, this notion has the
advantage of simulatneous succinctness ( prices) and market clearance.
Our first set of results concern welfare guarantees. We show that in markets
where consumers care only about the number of goods they receive (known as
multi-unit or homogeneous markets), even in the presence of complementarities,
there always exists a competitive bundling equilibrium that guarantees a
logarithmic fraction of the optimal welfare, and this guarantee is tight. We
also establish non-trivial welfare guarantees for general markets, two-consumer
markets, and markets where the consumer valuations are additive up to a fixed
budget (budget-additive).
Our second set of results concern revenue guarantees. Motivated by the fact
that the revenue extracted in a standard competitive equilibrium may be zero
(even with simple unit-demand consumers), we show that for natural subclasses
of gross substitutes valuations, there always exists a competitive bundling
equilibrium that extracts a logarithmic fraction of the optimal welfare, and
this guarantee is tight. The notion of competitive bundling equilibrium can
thus be useful even in markets which possess a standard competitive
equilibrium
A novel technique for the treatment of post operative retro-rectal haematoma: two case reports
Rectal bleeding following any form of rectal surgery is a well recognised complication 1, 2, 3 & 4. However retro-rectal bleeding and tracking which then presents as rectal bleeding has not been reported in the literature. We describe a novel way of dealing with this technically difficult post-operative complication
Fashion, Cooperation, and Social Interactions
Fashion plays such a crucial rule in the evolution of culture and society
that it is regarded as a second nature to the human being. Also, its impact on
economy is quite nontrivial. On what is fashionable, interestingly, there are
two viewpoints that are both extremely widespread but almost opposite:
conformists think that what is popular is fashionable, while rebels believe
that being different is the essence. Fashion color is fashionable in the first
sense, and Lady Gaga in the second. We investigate a model where the population
consists of the afore-mentioned two groups of people that are located on social
networks (a spatial cellular automata network and small-world networks). This
model captures two fundamental kinds of social interactions (coordination and
anti-coordination) simultaneously, and also has its own interest to game
theory: it is a hybrid model of pure competition and pure cooperation. This is
true because when a conformist meets a rebel, they play the zero sum matching
pennies game, which is pure competition. When two conformists (rebels) meet,
they play the (anti-) coordination game, which is pure cooperation. Simulation
shows that simple social interactions greatly promote cooperation: in most
cases people can reach an extraordinarily high level of cooperation, through a
selfish, myopic, naive, and local interacting dynamic (the best response
dynamic). We find that degree of synchronization also plays a critical role,
but mostly on the negative side. Four indices, namely cooperation degree,
average satisfaction degree, equilibrium ratio and complete ratio, are defined
and applied to measure people's cooperation levels from various angles. Phase
transition, as well as emergence of many interesting geographic patterns in the
cellular automata network, is also observed.Comment: 21 pages, 12 figure
Overthrowing the dictator: a game-theoretic approach to revolutions and media
A distinctive feature of recent revolutions was the key role of social media (e.g. Facebook, Twitter and YouTube). In this paper, we study its role in mobilization. We assume that social media allow potential participants to observe the individual participation decisions of others, while traditional mass media allow potential participants to see only the total number of people who participated before them. We show that when individuals’ willingness to revolt is publicly known, then both sorts of media foster a successful revolution. However, when willingness to revolt is private information, only social media ensure that a revolt succeeds, with mass media multiple outcomes are possible, one of which has individuals not participating in the revolt. This suggests that social media enhance the likelihood that a revolution triumphs more than traditional mass media
Crises and collective socio-economic phenomena: simple models and challenges
Financial and economic history is strewn with bubbles and crashes, booms and
busts, crises and upheavals of all sorts. Understanding the origin of these
events is arguably one of the most important problems in economic theory. In
this paper, we review recent efforts to include heterogeneities and
interactions in models of decision. We argue that the Random Field Ising model
(RFIM) indeed provides a unifying framework to account for many collective
socio-economic phenomena that lead to sudden ruptures and crises. We discuss
different models that can capture potentially destabilising self-referential
feedback loops, induced either by herding, i.e. reference to peers, or
trending, i.e. reference to the past, and account for some of the phenomenology
missing in the standard models. We discuss some empirically testable
predictions of these models, for example robust signatures of RFIM-like herding
effects, or the logarithmic decay of spatial correlations of voting patterns.
One of the most striking result, inspired by statistical physics methods, is
that Adam Smith's invisible hand can badly fail at solving simple coordination
problems. We also insist on the issue of time-scales, that can be extremely
long in some cases, and prevent socially optimal equilibria to be reached. As a
theoretical challenge, the study of so-called "detailed-balance" violating
decision rules is needed to decide whether conclusions based on current models
(that all assume detailed-balance) are indeed robust and generic.Comment: Review paper accepted for a special issue of J Stat Phys; several
minor improvements along reviewers' comment
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