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SUMMARY:On Bayes-Nash implementation of combinatorial auctions: structure 
 and efficiency - Prof Bruce Hajek - University of Illinois\, Urbana-Champa
 ign
DTSTART:20100517T090000Z
DTEND:20100517T100000Z
UID:TALK24931@talks.cam.ac.uk
CONTACT:Microsoft Research Cambridge Talks Admins
DESCRIPTION:*Abstract:* An overview of the structure of Bayesian optimal a
 uctions\, along the lines of Myerson\, but for discrete-valued valuations 
 is given. A novel graphical construction of virtual valuations is provided
 . In the second part of the presentation\, the problem of characterising r
 evenue optimal auctions for single-minded buyers is discussed\, meaning ea
 ch buyer is interested only in a specific bundle of items and has a value 
 for the same\, and both the choice of bundle and the value are private inf
 ormation. The talk will also address the question of how efficient the rev
 enue optimal auction is. (Based on joint work with Vineet Abhishek.\nDetai
 ls can be found in two papers on Arxiv.org: 1005.1059 and 1005.1121.)\n\n*
 Biography:* Bruce Hajek is a Professor in the Department of Electrical and
  Computer Engineering and in the Coordinated Science Laboratory at the Uni
 versity of Illinois at Urbana-Champaign\, where he has been since 1979. Hi
 s research interests include communication and computer networks\, stochas
 tic systems\, combinatorial and nonlinear optimization\, and information t
 heory. He served as Associate Editor for Communication Networks and Comput
 er Networks for the IEEE Transactions on Information Theory\, as Editor-in
 -Chief of the same Transactions\, and as President of the IEEE Information
  Theory Society. He is a member of the US National Academy of Engineering 
 and he was a winner of the 1973 USA Mathematical Olympiad. He received the
  Eckman Award of the American Automatic Control Council\, an NSF President
 ial Young Investigator Award\, an Outstanding Paper Award from the IEEE Co
 ntrol Systems Society\, and the IEEE Kobayashi Computer Communications Awa
 rd
LOCATION:Small public lecture room\, Microsoft Research Ltd\, 7 J J Thomso
 n Avenue (Off Madingley Road)\, Cambridge
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