Re: [theory students] Today's theory lunch moved to room 2310

[YIFENG TENG <yifengt@xxxxxxxxxxx>]

There is (a lot of) pizza in CS 4397. Please come and get some!

Yifeng

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From: Theory-students <theory-students-bounces@xxxxxxxxxxx> on behalf of YIFENG TENG <yifengt@xxxxxxxxxxx>
Sent: Wednesday, October 16, 2019 12:45 AM
To: Theory Students <theory-students@xxxxxxxxxxx>; theory-postdocs@xxxxxxxxxxx <theory-postdocs@xxxxxxxxxxx>; Theory Faculty <theory-faculty@xxxxxxxxxxx>
Subject: [theory students] Today's theory lunch moved to room 2310

 

Hi everyone,

Today's theory lunch will move to CS 2310 since the other room is occupied. Pizza will be served during the talk, so please come!

Below is the information for today's talk.

Title: Why Do Competitive Markets Converge to First-Price Auctions?

Abstract: We consider a setting in which bidders participate in multiple auctions run by different sellers, and optimize their bids for the aggregate auction. We analyze this setting by formulating a game between sellers, where a seller's strategy is to pick an auction to run. Our analysis aims to shed light on the recent change in the Display Ads market landscape: here, adexchanges (sellers) were mostly running second price auctions earlier and over time they switched to variants of the first price auction, culminating in Google's Ad Exchange moving to a first price auction in 2019. Our model and results offer an explanation for why the first price auction occurs as a natural equilibrium in such competitive markets. This is joint work with Renato Paes Leme and Balasubramanian Sivan.

The spreadsheet for this semester is as below:

https://docs.google.com/spreadsheets/d/12LdZiO-QU7kW7s1bS4zSzeVw_1N-2Fkuh260gdcwM-U/edit?usp=sharing

Students are encouraged to sign up to give an (informal) talk. Also, professors are certainly welcome to add a note if free food will be provided.

Thanks,

Yifeng