Prophets and Optimal Auctions

26^th June 2019, 13:00
Victor Verdugo Silva
London School of Economics

Abstract

In many situations finding the optimal revenue pricing policy requires to solve a hard optimisation problem. Posted price mechanism are simple and efficiently implementable. In this talk I'll show the connection between this type of mechanisms and optimal stopping rules for online selection problems, and how the guarantees from one problem to the other are preserved.

Joint work with José Correa, Patricio Foncea and Dana Pizarro.
Appeared in Operations Research Letters 2019.