{"type":"ScholarlyArticle","title":"Envy-Free Sponsored Search Auctions with Budgets","authors":[{"name":"Bo Tang","slug":"bo-tang","given":"Bo","family":"Tang","affiliation":""},{"name":"Jinshan Zhang","slug":"jinshan-zhang","given":"Jinshan","family":"Zhang","affiliation":""}],"abstract":"We study the problem of designing envy-free sponsored search auctions, where bidders are budget-constrained. Our primary goal is to design auctions that maximize social welfare and revenue — two classical objectives in auction theory. For this purpose, we characterize envy-freeness with budgets by proving several elementary properties including consistency, monotonicity and transitivity. Based on this characterization, we come up with an envy-free auction, that is both social-optimal and bidder-optimal for a wide class of bidder types. More generally, for all bidder types, we provide two polynomial time approximation schemes (PTASs) for maximizing social welfare or revenue, where the notion of envy-freeness has been relaxed slightly. Finally, in cases where randomization is allowed in designing auctions, we devise similar PTASs for social welfare or revenue maximization problems.","doi":null,"url":"https://ijcai.org/proceedings/2015/98","pdf":"https://ijcai.org/proceedings/2015/0098.pdf","markdown":"https://ijcai.org/proceedings/2015/98.md","bibtex":"https://ijcai.org/proceedings/2015/bibtex/98","volume":{"slug":"2015","title":"Proceedings of the Twenty-Fourth International Joint Conference on Artificial Intelligence","short_title":"IJCAI 2015","url":"https://ijcai.org/proceedings/2015/","year":2015,"location":"Buenos Aires, Argentina","dates":"25–31 July 2015","editors":"Qiang Yang and Michael Wooldridge","isbn":"978-1-57735-738-4","publisher":"International Joint Conferences on Artificial Intelligence","doi_prefix":""},"section":"Game Theory","track":"Main Track","number":98,"pages":{"first":653,"last":658},"keywords":[],"videos":[],"references":[],"license_note":"Copyright International Joint Conferences on Artificial Intelligence."}