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                Department of Decisions, Operations and Technology

                                                        &

       Department of Systems Engineering and Engineering Management

                                             Seminar (OM)

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Date: Wednesday, November 22, 2023, 2:00 pm HKT

Venue: LT3, Esther Lee Building, CUHK

Title: Optimal No-Regret Learning in Repeated First-Price Auctions

Speaker: Prof. Zhengyuan ZHOU, Assistant Professor of Technology, Operations, and Statistics,

Leonard N. Stern School of Business, New York University

Abstract: First-price auctions have very recently swept the online advertising industry, replacing second-price auctions as the predominant auction mechanism on many platforms for display ads bidding. This shift has brought forth important challenges for a bidder: how should one bid in a first-price auction, where unlike in second-price auctions, it is no longer optimal to bid one's private value truthfully and hard to know the others' bidding behaviors? In this paper, we take an online learning angle and address the fundamental problem of learning to bid in repeated first-price auctions. We discuss our recent work in leveraging the special structures of the first-price auctions to design minimax optimal no-regret bidding algorithms.

Everyone is welcome to attend the talk!

SEEM-5201 Website: http://seminar.se.cuhk.edu.hk

Email: seem5201@se.cuhk.edu.hk