We study the design of pricing mechanisms and auctions when the mechanism designer does not know the distribution of buyers’ values. Instead the mechanism designer receives a set of samples from this distribution and his goal is to use the sample to design a pricing mechanism or auction with high expected profit. We provide generalization guarantees which bound the difference between average pr...

We provide a Polynomial Time Approximation Scheme (PTAS) for the Bayesian optimal multiitem multi-bidder auction problem under two conditions. First, bidders are independent, have additive valuations and are from the same population. Second, every bidder’s value distributions of items are independent but not necessarily identical monotone hazard rate (MHR) distributions. For non-i.i.d. bidders,...

Assuming that bidders wish to acquire at most one item, this paper defines a polynomial time multiitem auction that locates the VCG prices in a finite number of iterations for any given starting prices. This auction is called the Vickrey-English-Dutch auction and it contains the Vickrey-English auction (J.K. Sankaran, Math. Soc. Sci. 28:143–150, 1994) and the Vickrey-Dutch auction (D. Mishra an...

Macaque monkeys were trained to recognize the repetition of one of the images already seen in a sequence of random length. On average, performance decreased with sequence length. However, this was due to a complex combination of factors, as follows: performance was found to decrease with the separation in the sequence of the test (repetition image) from the cue (its first appearance in the sequ...