The Role of Transparency in Repeated First-Price Auctions with Unknown Valuations

arXiv:2307.09478v2 Announce Type: replace-cross
Abstract: We study the problem of regret minimization for a single bidder in a sequence of first-price auctions where the bidder discovers the item's value only if the auction is won. Our main contribution is a complete characterization, up to logarithmic factors, of the minimax regret in terms of the auction's \emph{transparency}, which controls the amount of information on competing bids disclosed by the auctioneer at the end of each auction. Our results hold under different …

abstract arxiv cs.ds cs.gt cs.lg minimax price role study transparency type valuations value