2000 character limit reached
On the Complexity of Equilibrium Computation in First-Price Auctions (2103.03238v3)
Published 4 Mar 2021 in cs.GT and cs.CC
Abstract: We consider the problem of computing a (pure) Bayes-Nash equilibrium in the first-price auction with continuous value distributions and discrete bidding space. We prove that when bidders have independent subjective prior beliefs about the value distributions of the other bidders, computing an $\varepsilon$-equilibrium of the auction is PPAD-complete, and computing an exact equilibrium is FIXP-complete. We also provide an efficient algorithm for solving a special case of the problem, for a fixed number of bidders and available bids.