Selling to Multiple No-Regret Buyers

Linda Cai, S. Matthew Weinberg, Evan Wildenhain, Shirley Zhang

Abstract: We consider the problem of repeatedly auctioning a single item to multiple i.i.d buyers who each use a no-regret learning algorithm to bid over time. In particular, we study the seller’s optimal revenue, if they know that the buyers are no-regret learners (but only that their behavior satisfies some no-regret property—they do not know the precise algorithm/heuristic used).