This paper surveys some recent theoretical results on the efficiency of machine learning algorithms. The main tool described is the notion of Probably Approximately Correct (PAC) 1 earning, introduced by Valiant. We define this learning model and then look at sorne of the results obtained in it. We then consider some criticisms of the PAC model and the extensions proposed to address these criti...

While Myerson’s theorem provides an elegant solution to the optimal auction design problem for k-good auctions, his auction is rather complicated, and is consequently not widely used in practice. On the other hand, posted-price mechanisms are widely used in practice. We have derived an optimal posted-price mechanism for an auction with a single bidder.1 What about for multiple bidders? What is ...