{"paper":{"title":"The Competition Complexity of Auctions: A Bulow-Klemperer Result for Multi-Dimensional Bidders","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["cs.DS"],"primary_cat":"cs.GT","authors_text":"Alon Eden, Inbal Talgam-Cohen, Michal Feldman, Ophir Friedler, S. Matthew Weinberg","submitted_at":"2016-12-28T08:09:29Z","abstract_excerpt":"A seminal result of Bulow and Klemperer [1989] demonstrates the power of competition for extracting revenue: when selling a single item to $n$ bidders whose values are drawn i.i.d. from a regular distribution, the simple welfare-maximizing VCG mechanism (in this case, a second price-auction) with one additional bidder extracts at least as much revenue in expectation as the optimal mechanism. The beauty of this theorem stems from the fact that VCG is a {\\em prior-independent} mechanism, where the seller possesses no information about the distribution, and yet, by recruiting one additional bidde"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1612.08821","kind":"arxiv","version":1},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"}