Dashboard Mechanisms for Online Marketplaces

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Microsoft Research
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Published on ● Video Link: https://www.youtube.com/watch?v=pOa2pTB4Fs8


Duration: 1:05:03
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We present a theoretical model for design and analysis of mechanisms for online marketplaces where a bidding dashboard enables the bid-optimization of long-lived agents. We assume that a good allocation algorithm exists when given the true values of the agents and we develop online winner-pays-bid and all-pay mechanisms that implement the same outcome of the algorithm with the aid of a bidding dashboard. The bidding dashboards that we develop work in conjunction with the mechanism to guarantee that bidding according to the dashboard is strategically equivalent (with vanishing utility difference) to bidding truthfully in the sequential truthful implementation of the allocation algorithm. Our dashboard mechanism makes only a single call to the allocation algorithm in each stage.

Joint work with Aleck Johnsen, Denis Nekipelov, and Onno Zoeter

Talk slides: https://www.microsoft.com/en-us/research/uploads/prod/2019/09/Dashboard-Mechanisms-for-Online-Marketplaces-SLIDES.pdf

Publication: https://arxiv.org/abs/1905.05750

See more at Microsoft Research: https://www.microsoft.com/en-us/research/video/dashboard-mechanisms-for-online-marketplaces/



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Tags:
online marketplaces
dashboards
algorithms
bidding algorithms
bid-optimization
bidding dashboard
allocation algorithm
Booking.com
Ebay
Microsoft Research