Auction Theory and Market Design (IN2211)

Prof. Dr. Martin Bichler

Mete Ahunbay PhD  ·  Eleni Batziou M.Sc. ·  Matthias Oberlechner M.Sc. ·  Fabian Pieroth M.Sc.  ·  Gregor Schwarz M.Sc.  

Intended learning outcomes

The field of market design studies how to construct rules for allocating resources or to structure successful marketplaces. It draws on the tools of game theory and mechanism design to identify why certain market rules or institutions succeed and why others fail. The field has become popular in the recent years with many applications in the sale of spectrum licenses, electricity markets, or the assignment of students to courses. 

After participating in the course, the participants understand methods and game-theoretical models of auctions as well as the fundamental problems in the design of combinatorial auctions. They are able to assess the properties of different auction formats, and the results of theoretical and experimental analyses.


Prerequisites

Students should be familiar with linear and integer optimization. The lecture on algorithmic game theory provides complementary concepts in game theory and related issues in complexity theory.


Syllabus

  • Lectures and tutorial classes will be given on-site, but streamed via TUM-Live such that students can access from remote.

  • When attending lectures/tutorials in person, it is mandatory for students to be in posession of a valid 3G proof (German for genesen-geimpft-getested, meaning recovered, vaccinated, or tested). This will be checked before each lecture/tutorial. Please wait in front of the lecture hall before the beginning of the class. In the early classes we might have more students than we can fit in the class room. We need to admit via first-come first-served.

  • Lectures: Wednesdays, 14:00 - 17:30, TUM Department of Informatics, Garching-Forschungszentrum, MI Hörsaal 2 (00.04.011). The first class might take until 18.30.

  • Tutorial: Thursday, 16:00 - 18:00, TUM Department of Informatics, Garching-Forschungszentrum, MI Hörsaal 2 (00.04.011)

  • The tutorial class in the first week of December takes place on Wednesday, December 1, 17:30-19:30,  TUM Department of Informatics, Garching-Forschungszentrum, MI Hörsaal 2 (00.04.011)

  • Final exam: tba

Topic

Lecture 

Exercise

An introduction to game theory

20.10.

28.10. 

Game theory and mechanism design

27.10.

04.11.

Single-item auctions

03.11.

11.11.

Combinatorial auctions

10.11.

18.11.

Assignment markets

17.11.

25.11.

Iterative combinatorial auctions

24.11.

01.12.

Combinatorial clock auctions

01.12.

09.12.

Approximation mechanisms

08.12.

16.12.

Matching Markets

15.12.

23.12.


Organization

  • Slides: will be made available before each class in the eLearning plattform Moodle.

  • Lecture registration opens on October 1st.

  • Exercise registration opens after the first lecture on October 16th.


Literature


Contact

Prof. Martin Bichler
Room 01.10.061
Phone: 289-17500
E-Mail: bichler@in.tum.de
 
 
Gregor Schwarz
Room 01.10.058
Phone: 289 - 17528
E-Mail: gregor.schwarz@in.tum.de