{"title":"Learning to Persuade on the Fly: Robustness Against Ignorance","authors":"You Zu, Krishnamurthy Iyer, Haifeng Xu","doi":"10.1287/opre.2021.0529","DOIUrl":"https://doi.org/10.1287/opre.2021.0529","url":null,"abstract":"Operations Research, Ahead of Print. <br/>","PeriodicalId":54680,"journal":{"name":"Operations Research","volume":"21 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141503002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mete Şeref Ahunbay, Martin Bichler, Johannes Knörr
{"title":"Pricing Optimal Outcomes in Coupled and Non-convex Markets: Theory and Applications to Electricity Markets","authors":"Mete Şeref Ahunbay, Martin Bichler, Johannes Knörr","doi":"10.1287/opre.2023.0401","DOIUrl":"https://doi.org/10.1287/opre.2023.0401","url":null,"abstract":"Operations Research, Ahead of Print. <br/>","PeriodicalId":54680,"journal":{"name":"Operations Research","volume":"80 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141502950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Boundary Effects in the Diffusion of New Products on Cartesian Networks","authors":"Gadi Fibich, Tomer Levin, Kenneth T. Gillingham","doi":"10.1287/opre.2022.0004","DOIUrl":"https://doi.org/10.1287/opre.2022.0004","url":null,"abstract":"Operations Research, Ahead of Print. <br/>","PeriodicalId":54680,"journal":{"name":"Operations Research","volume":"205 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141522579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Anna Winnicki, Joseph Lubars, Michael Livesay, R. Srikant
{"title":"The Role of Lookahead and Approximate Policy Evaluation in Reinforcement Learning with Linear Value Function Approximation","authors":"Anna Winnicki, Joseph Lubars, Michael Livesay, R. Srikant","doi":"10.1287/opre.2022.0357","DOIUrl":"https://doi.org/10.1287/opre.2022.0357","url":null,"abstract":"Operations Research, Ahead of Print. <br/>","PeriodicalId":54680,"journal":{"name":"Operations Research","volume":"20 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141192335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jerry Anunrojwong, Santiago R. Balseiro, Omar Besbes
{"title":"On the Robustness of Second-Price Auctions in Prior-Independent Mechanism Design","authors":"Jerry Anunrojwong, Santiago R. Balseiro, Omar Besbes","doi":"10.1287/opre.2022.0428","DOIUrl":"https://doi.org/10.1287/opre.2022.0428","url":null,"abstract":"<p>Classical Bayesian mechanism design relies on the common prior assumption, but the common prior is often not available in practice. We study the design of prior-independent mechanisms that relax this assumption: The seller is selling an indivisible item to <i>n</i> buyers such that the buyers’ valuations are drawn from a joint distribution that is unknown to both the buyers and the seller, buyers do not need to form beliefs about competitors, and the seller assumes the distribution is adversarially chosen from a specified class. We measure performance through the worst-case <i>regret</i>, or the difference between the expected revenue achievable with perfect knowledge of buyers’ valuations and the actual mechanism revenue. We study a broad set of classes of valuation distributions that capture a wide spectrum of possible dependencies: independent and identically distributed (i.i.d.) distributions, mixtures of i.i.d. distributions, affiliated and exchangeable distributions, exchangeable distributions, and all joint distributions. We derive in quasi closed form the minimax values and the associated optimal mechanism. In particular, we show that the first three classes admit the same minimax regret value, which is decreasing with the number of competitors, whereas the last two have the same minimax regret equal to that of the case <i>n</i> = 1. Furthermore, we show that the minimax optimal mechanisms have a simple form across all settings: a <i>second-price auction with random reserve prices</i>, which shows its robustness in prior-independent mechanism design. En route to our results, we also develop a principled methodology to determine the form of the optimal mechanism and worst-case distribution via first-order conditions that should be of independent interest in other minimax problems.</p><p><b>Supplemental Material:</b> The online appendices are available at https://doi.org/10.1287/opre.2022.0428.</p>","PeriodicalId":54680,"journal":{"name":"Operations Research","volume":"39 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141063531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}