NDLI: Posted Prices , Smoothness , and Combinatorial Prophet Inequalities

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Posted Prices , Smoothness , and Combinatorial Prophet Inequalities

Content Provider	Semantic Scholar
Author	Dütting, Paul Feldman, Michal Kesselheim, Thomas Lucier, Brendan
Copyright Year	2016
Abstract	We present a general framework for proving combinatorial prophet inequalities and constructing posted-price mechanisms. Our framework applies to stochastic welfare optimization problems, in which buyers arrive sequentially and make utility-maximizing purchases. Our analysis takes the form of an extension theorem: we derive sufficient conditions for achieving welfare bounds in the special case of deterministic valuations, then prove that these bounds extend directly to stochastic settings. Furthermore, our welfare bounds compose in the sense that the welfare guarantees are preserved when buyers participate in many optimization problems simultaneously. Our sufficient conditions have a natural economic interpretation, and our approach is closely connected to the smoothness framework for bounding the price of anarchy of mechanisms. We show that many smooth mechanisms can be recast as posted price mechanisms with comparable performance guarantees. We illustrate the power of our framework in a range of applications, including combinatorial auctions, matroids, and sparse packing programs, where we unify and improve many of the previously known results. Department of Mathematics, London School of Economics, Houghton Street, London WC2A 2AE, UK, Email: p.d.duetting@lse.ac.uk. Blavatnic School of Computer Science, Tel Aviv University, P.O.B. 39040, Ramat Aviv, Tel Aviv, Israel. Email: mfeldman@tau.ac.il Max Planck Institute for Informatics and Saarland University, Saarland Informatics Campus, Campus E1 4, 66123 Saarbrücken, Germany. Email: thomas.kesselheim@mpi-inf.mpg.de. Supported in part by the DFG through Cluster of Excellence MMCI. Part of this work was done while the author was visiting Simons Institute for the Theory of Computing. Microsoft Research, 1 Memorial Drive #1, Cambridge, MA 02142, USA. Email: brlucier@microsoft.com
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://pubman.mpdl.mpg.de/pubman/item/escidoc:2385418:1/component/escidoc:2385417/arXiv:1612.03161.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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