Abstract: We describe a family of stochastic auctions that are incentive-compatible (i.e., “truthful”), and which generalize Vickrey auctions. We describe situations in which such stochastic auctions are useful. We then discuss contingent-payment auctions and their incentive-compatible counterparts Finally, we discuss how to utilize both reinforcement-learning techniques and stochastic auctions to learn probabilities for contingencies.
Publication Year: 2005
Publication Date: 2005-01-01
Language: en
Type: article
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Cited By Count: 20
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