|M.Sc Student||Rabinovich Yuri|
|Subject||Automated Design of Near Optimal Auctions for Real Life|
|Department||Department of Industrial Engineering and Management||Supervisor||Mr. Amir Ronen|
|Full Thesis text|
Automated construction of revenue maximizing auctions poses many challenges that are not addressed by classic auction theory. In this thesis we describe the first system that facilitates generic automated construction of near optimal auctions for real-life applications. In order to test our system we execute it on several benchmark distributions. On all of these benchmarks, our system yields higher revenue than the English auction. On some of them, the gap is significant. The system gives initial insight into several issues that have yet to be explored, such as the price of fairness in single item auctions, the power of ascending auctions, etc. Many open questions are presented as well.