{"id":"https://openalex.org/W7162139089","doi":"https://doi.org/10.48550/arxiv.2605.21934","title":"Single-Item Auctions with a Monopolist Intermediary","display_name":"Single-Item Auctions with a Monopolist Intermediary","publication_year":2026,"publication_date":"2026-05-21","ids":{"openalex":"https://openalex.org/W7162139089","doi":"https://doi.org/10.48550/arxiv.2605.21934"},"language":"en","primary_location":{"id":"pmh:oai:arXiv.org:2605.21934","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/abs/2605.21934","pdf_url":"https://arxiv.org/pdf/2605.21934","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":["arxiv","datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://arxiv.org/pdf/2605.21934","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5136744547","display_name":"Jingyi Liu","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Liu, Jingyi","raw_affiliation_strings":["Princeton University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Princeton University","institution_ids":["https://openalex.org/I20089843"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5035432679","display_name":"Aviad Rubinstein","orcid":"https://orcid.org/0000-0002-6900-8612","observed_orcids":["https://orcid.org/0000-0002-6900-8612"]},"institutions":[{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Rubinstein, Aviad","raw_affiliation_strings":["Stanford University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Stanford University","institution_ids":["https://openalex.org/I97018004"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5029098755","display_name":"Ertem Nusret Tas","orcid":"https://orcid.org/0000-0001-6061-9700","observed_orcids":["https://orcid.org/0000-0001-6061-9700"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Tas, Ertem Nusret","raw_affiliation_strings":["Crypto Research"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Crypto Research","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5075388037","display_name":"Seth Matthew Weinberg","orcid":"https://orcid.org/0000-0001-7744-795X","observed_orcids":["https://orcid.org/0000-0001-7744-795X"]},"institutions":[{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Weinberg, S. Matthew","raw_affiliation_strings":["Princeton University \u00b6"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Princeton University \u00b6","institution_ids":["https://openalex.org/I20089843"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5136762479","display_name":"Qianfan Zhang","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Zhang, Qianfan","raw_affiliation_strings":["Crypto Research","Princeton University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Crypto Research","institution_ids":[]},{"raw_affiliation_string":"Princeton University","institution_ids":["https://openalex.org/I20089843"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10991","display_name":"Game Theory and Voting Systems","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11031","display_name":"Game Theory and Applications","score":0.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/single-item-auctions","display_name":"single-item auctions","score":0.8519999980926514},{"id":"https://openalex.org/keywords/optimal-auction-design","display_name":"optimal auction design","score":0.5230000019073486},{"id":"https://openalex.org/keywords/independent-private-values","display_name":"independent private values","score":0.7170000076293945},{"id":"https://openalex.org/keywords/online-platforms","display_name":"digital platforms","score":0.8880000114440918},{"id":"https://openalex.org/keywords/stackelberg-game","display_name":"Stackelberg game","score":0.5979999899864197},{"id":"https://openalex.org/keywords/approximation-guarantees","display_name":"approximation guarantees","score":0.5440000295639038},{"id":"https://openalex.org/keywords/impossibility-results","display_name":"impossibility results","score":0.9919999837875366},{"id":"https://openalex.org/keywords/regular-distributions","display_name":"regular distributions","score":0.7070000171661377},{"id":"https://openalex.org/keywords/posted-prices","display_name":"posted prices","score":0.5339999794960022},{"id":"https://openalex.org/keywords/seller-revenue","display_name":"seller revenue","score":0.3779999911785126}],"concepts":[{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.7688999772071838},{"id":"https://openalex.org/C2776261394","wikidata":"https://www.wikidata.org/wiki/Q315562","display_name":"Impossibility","level":2,"score":0.6247000098228455},{"id":"https://openalex.org/C199510392","wikidata":"https://www.wikidata.org/wiki/Q1184602","display_name":"Stackelberg competition","level":2,"score":0.558899998664856},{"id":"https://openalex.org/C2777027219","wikidata":"https://www.wikidata.org/wiki/Q1284190","display_name":"Constant (computer programming)","level":2,"score":0.5411999821662903},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.5037999749183655},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.4966000020503998},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.4875999987125397},{"id":"https://openalex.org/C149629883","wikidata":"https://www.wikidata.org/wiki/Q660926","display_name":"Fraction (chemistry)","level":2,"score":0.47929999232292175},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.47510001063346863},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.4544000029563904},{"id":"https://openalex.org/C2781127519","wikidata":"https://www.wikidata.org/wiki/Q43637","display_name":"Monopoly","level":2,"score":0.44780001044273376},{"id":"https://openalex.org/C200594392","wikidata":"https://www.wikidata.org/wiki/Q812529","display_name":"Bayesian game","level":4,"score":0.4133000075817108},{"id":"https://openalex.org/C153517567","wikidata":"https://www.wikidata.org/wiki/Q26090","display_name":"Mechanism design","level":2,"score":0.37380000948905945},{"id":"https://openalex.org/C99221444","wikidata":"https://www.wikidata.org/wiki/Q1532069","display_name":"Private information retrieval","level":2,"score":0.36399999260902405},{"id":"https://openalex.org/C11276805","wikidata":"https://www.wikidata.org/wiki/Q771334","display_name":"Auction theory","level":3,"score":0.3449999988079071},{"id":"https://openalex.org/C83426474","wikidata":"https://www.wikidata.org/wiki/Q243758","display_name":"Vickrey auction","level":4,"score":0.34369999170303345},{"id":"https://openalex.org/C77553402","wikidata":"https://www.wikidata.org/wiki/Q13222579","display_name":"Upper and lower bounds","level":2,"score":0.31119999289512634},{"id":"https://openalex.org/C9233905","wikidata":"https://www.wikidata.org/wiki/Q3276328","display_name":"Bidding","level":2,"score":0.3093999922275543},{"id":"https://openalex.org/C48278072","wikidata":"https://www.wikidata.org/wiki/Q5532508","display_name":"Generalized second-price auction","level":4,"score":0.2980000078678131},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.29350000619888306},{"id":"https://openalex.org/C143684077","wikidata":"https://www.wikidata.org/wiki/Q431186","display_name":"Revenue equivalence","level":4,"score":0.29170000553131104},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.28290000557899475},{"id":"https://openalex.org/C177142836","wikidata":"https://www.wikidata.org/wiki/Q44455","display_name":"Game theory","level":2,"score":0.2806999981403351},{"id":"https://openalex.org/C2539976","wikidata":"https://www.wikidata.org/wiki/Q12163285","display_name":"Double auction","level":3,"score":0.2694000005722046},{"id":"https://openalex.org/C113336015","wikidata":"https://www.wikidata.org/wiki/Q574010","display_name":"Complete information","level":2,"score":0.26600000262260437},{"id":"https://openalex.org/C141513077","wikidata":"https://www.wikidata.org/wiki/Q378542","display_name":"Independent and identically distributed random variables","level":3,"score":0.2653999924659729},{"id":"https://openalex.org/C2775924081","wikidata":"https://www.wikidata.org/wiki/Q55608371","display_name":"Control (management)","level":2,"score":0.2533000111579895}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:arXiv.org:2605.21934","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/abs/2605.21934","pdf_url":"https://arxiv.org/pdf/2605.21934","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"doi:10.48550/arxiv.2605.21934","doi":"https://doi.org/10.48550/arxiv.2605.21934","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2605.21934","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"}],"best_oa_location":{"id":"pmh:oai:arXiv.org:2605.21934","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/abs/2605.21934","pdf_url":"https://arxiv.org/pdf/2605.21934","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320309292","display_name":"Princeton University","ror":"https://ror.org/00hx57361"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7162139089.pdf","grobid_xml":"https://content.openalex.org/works/W7162139089.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3168006441","https://openalex.org/W3089330505","https://openalex.org/W2997957161","https://openalex.org/W1635784337","https://openalex.org/W7163952622","https://openalex.org/W7124141019","https://openalex.org/W2010985740","https://openalex.org/W3216938791","https://openalex.org/W4226119658","https://openalex.org/W2404364499"],"abstract_inverted_index":{"Classical":[0],"optimal":[1],"auction":[2,41],"theory":[3],"assumes":[4],"that":[5,141],"bids":[6],"reach":[7],"the":[8,24,59,77,89,106,115,130],"seller":[9,82],"directly.":[10],"We":[11,61,138],"study":[12],"how":[13],"this":[14],"picture":[15],"changes":[16],"when":[17],"a":[18,39,47,94,100,126,133],"revenue-maximizing":[19],"intermediary":[20,49],"controls":[21],"access":[22],"to":[23,58,85,114],"seller's":[25,107],"auction.":[26,97],"Motivated":[27],"by":[28],"blockchain":[29],"auctions,":[30],"online":[31],"platforms,":[32],"and":[33,46,65,74,88,149],"other":[34],"intermediated":[35],"markets,":[36],"we":[37],"consider":[38],"single-item":[40],"with":[42,132],"independent":[43],"private":[44],"values":[45],"monopolist":[48],"who":[50],"can":[51,109,152],"decide":[52],"which":[53],"bidder":[54],"messages":[55],"are":[56],"forwarded":[57],"seller.":[60],"establish":[62],"approximation":[63],"guarantees":[64],"impossibility":[66],"results":[67],"across":[68],"three":[69],"timing":[70,142],"models:":[71],"seller-first,":[72],"intermediary-first,":[73],"simultaneous.":[75],"In":[76],"seller-first":[78],"model,":[79],"arbitrary":[80],"deterministic":[81],"mechanisms":[83],"collapse":[84],"posted-price":[86],"mechanisms,":[87],"intermediary's":[90],"best":[91],"response":[92],"is":[93],"shifted":[95],"Myerson":[96],"This":[98],"yields":[99],"sharp":[101],"separation:":[102],"for":[103,119],"regular":[104,121],"distributions,":[105,122],"revenue":[108],"be":[110],"arbitrarily":[111],"small":[112],"relative":[113],"no-intermediary":[116],"optimum,":[117],"while":[118],"$\u03b1$-strongly":[120],"posted":[123],"prices":[124],"recover":[125],"constant":[127],"fraction":[128],"of":[129],"optimum":[131],"tight":[134],"dependence":[135],"on":[136],"$\u03b1$.":[137],"further":[139],"show":[140],"matters:":[143],"neither":[144],"Stackelberg":[145],"order":[146],"uniformly":[147],"dominates,":[148],"simultaneous":[150],"play":[151],"leave":[153],"both":[154],"parties":[155],"unboundedly":[156],"worse":[157],"off":[158],"than":[159],"in":[160],"either":[161],"sequential":[162],"model.":[163]},"counts_by_year":[],"updated_date":"2026-11-05T12:25:35.769452","created_date":"2026-05-23T00:00:00"}