{"id":"https://openalex.org/W2419168072","doi":"https://doi.org/10.1145/2940716.2940767","title":"Arbitrage-Free Combinatorial Market Making via Integer Programming","display_name":"Arbitrage-Free Combinatorial Market Making via Integer Programming","publication_year":2016,"publication_date":"2016-07-21","ids":{"openalex":"https://openalex.org/W2419168072","doi":"https://doi.org/10.1145/2940716.2940767","mag":"2419168072"},"language":"en","primary_location":{"id":"doi:10.1145/2940716.2940767","is_oa":false,"landing_page_url":"https://doi.org/10.1145/2940716.2940767","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 2016 ACM Conference on Economics and Computation","raw_type":"proceedings-article"},"type":"preprint","indexed_in":["arxiv","crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://arxiv.org/pdf/1606.02825","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5083207349","display_name":"Christian Kroer","orcid":"https://orcid.org/0000-0002-9009-8683"},"institutions":[{"id":"https://openalex.org/I74973139","display_name":"Carnegie Mellon University","ror":"https://ror.org/05x2bcf33","country_code":"US","type":"education","lineage":["https://openalex.org/I74973139"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Christian Kroer","raw_affiliation_strings":["Carnegie Mellon University, Pittsburgh, PA, USA"],"affiliations":[{"raw_affiliation_string":"Carnegie Mellon University, Pittsburgh, PA, USA","institution_ids":["https://openalex.org/I74973139"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5089372170","display_name":"Miroslav Dud\u0131\u0301k","orcid":"https://orcid.org/0009-0001-8565-0621"},"institutions":[{"id":"https://openalex.org/I1290206253","display_name":"Microsoft (United States)","ror":"https://ror.org/00d0nc645","country_code":"US","type":"company","lineage":["https://openalex.org/I1290206253"]},{"id":"https://openalex.org/I4401726785","display_name":"Microsoft Research New York City (United States)","ror":"https://ror.org/056zprp28","country_code":null,"type":"company","lineage":["https://openalex.org/I1290206253","https://openalex.org/I4401726785"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Miroslav Dud\u00edk","raw_affiliation_strings":["Microsoft Research, New York City, NY, USA"],"affiliations":[{"raw_affiliation_string":"Microsoft Research, New York City, NY, USA","institution_ids":["https://openalex.org/I1290206253","https://openalex.org/I4401726785"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5020965594","display_name":"S\u00e9bastien Lahaie","orcid":"https://orcid.org/0000-0002-7828-7289"},"institutions":[{"id":"https://openalex.org/I1290206253","display_name":"Microsoft (United States)","ror":"https://ror.org/00d0nc645","country_code":"US","type":"company","lineage":["https://openalex.org/I1290206253"]},{"id":"https://openalex.org/I4401726785","display_name":"Microsoft Research New York City (United States)","ror":"https://ror.org/056zprp28","country_code":null,"type":"company","lineage":["https://openalex.org/I1290206253","https://openalex.org/I4401726785"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"S\u00e9bastien Lahaie","raw_affiliation_strings":["Microsoft Research, New York City, NY, USA"],"affiliations":[{"raw_affiliation_string":"Microsoft Research, New York City, NY, USA","institution_ids":["https://openalex.org/I1290206253","https://openalex.org/I4401726785"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5079499739","display_name":"Sivaraman Balakrishnan","orcid":"https://orcid.org/0000-0002-4538-8665"},"institutions":[{"id":"https://openalex.org/I74973139","display_name":"Carnegie Mellon University","ror":"https://ror.org/05x2bcf33","country_code":"US","type":"education","lineage":["https://openalex.org/I74973139"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Sivaraman Balakrishnan","raw_affiliation_strings":["Carnegie Mellon University, Pittsburgh, PA, USA"],"affiliations":[{"raw_affiliation_string":"Carnegie Mellon University, Pittsburgh, PA, USA","institution_ids":["https://openalex.org/I74973139"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5083207349"],"corresponding_institution_ids":["https://openalex.org/I74973139"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":2,"citation_normalized_percentile":{"value":0.04635317,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":93,"max":95},"biblio":{"volume":null,"issue":null,"first_page":"161","last_page":"178"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11674","display_name":"Sports Analytics and Performance","score":1.0,"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"}},"topics":[{"id":"https://openalex.org/T11674","display_name":"Sports Analytics and Performance","score":1.0,"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/T11705","display_name":"Gambling Behavior and Treatments","score":0.9277999997138977,"subfield":{"id":"https://openalex.org/subfields/3203","display_name":"Clinical Psychology"},"field":{"id":"https://openalex.org/fields/32","display_name":"Psychology"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/oracle","display_name":"Oracle","score":0.6332632303237915},{"id":"https://openalex.org/keywords/combinatorial-auction","display_name":"Combinatorial auction","score":0.5887531042098999},{"id":"https://openalex.org/keywords/arbitrage","display_name":"Arbitrage","score":0.5792551636695862},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.5245568752288818},{"id":"https://openalex.org/keywords/solver","display_name":"Solver","score":0.5027580261230469},{"id":"https://openalex.org/keywords/integer-programming","display_name":"Integer programming","score":0.49321693181991577},{"id":"https://openalex.org/keywords/mathematical-optimization","display_name":"Mathematical optimization","score":0.46899914741516113},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.28328737616539},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.2799474596977234},{"id":"https://openalex.org/keywords/common-value-auction","display_name":"Common value auction","score":0.22487658262252808},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.19148975610733032},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.16103115677833557}],"concepts":[{"id":"https://openalex.org/C55166926","wikidata":"https://www.wikidata.org/wiki/Q2892946","display_name":"Oracle","level":2,"score":0.6332632303237915},{"id":"https://openalex.org/C59919655","wikidata":"https://www.wikidata.org/wiki/Q5150821","display_name":"Combinatorial auction","level":3,"score":0.5887531042098999},{"id":"https://openalex.org/C160623529","wikidata":"https://www.wikidata.org/wiki/Q273088","display_name":"Arbitrage","level":2,"score":0.5792551636695862},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5245568752288818},{"id":"https://openalex.org/C2778770139","wikidata":"https://www.wikidata.org/wiki/Q1966904","display_name":"Solver","level":2,"score":0.5027580261230469},{"id":"https://openalex.org/C56086750","wikidata":"https://www.wikidata.org/wiki/Q6042592","display_name":"Integer programming","level":2,"score":0.49321693181991577},{"id":"https://openalex.org/C126255220","wikidata":"https://www.wikidata.org/wiki/Q141495","display_name":"Mathematical optimization","level":1,"score":0.46899914741516113},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.28328737616539},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2799474596977234},{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.22487658262252808},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.19148975610733032},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.16103115677833557},{"id":"https://openalex.org/C115903868","wikidata":"https://www.wikidata.org/wiki/Q80993","display_name":"Software engineering","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1145/2940716.2940767","is_oa":false,"landing_page_url":"https://doi.org/10.1145/2940716.2940767","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 2016 ACM Conference on Economics and Computation","raw_type":"proceedings-article"},{"id":"pmh:oai:arXiv.org:1606.02825","is_oa":true,"landing_page_url":"http://arxiv.org/abs/1606.02825","pdf_url":"https://arxiv.org/pdf/1606.02825","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"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":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"}],"best_oa_location":{"id":"pmh:oai:arXiv.org:1606.02825","is_oa":true,"landing_page_url":"http://arxiv.org/abs/1606.02825","pdf_url":"https://arxiv.org/pdf/1606.02825","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"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":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"sustainable_development_goals":[{"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17","score":0.49000000953674316}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":23,"referenced_works":["https://openalex.org/W905619","https://openalex.org/W618991820","https://openalex.org/W1409984952","https://openalex.org/W1578796163","https://openalex.org/W1599628716","https://openalex.org/W1766619930","https://openalex.org/W1855754853","https://openalex.org/W1972265965","https://openalex.org/W1979829147","https://openalex.org/W2043425031","https://openalex.org/W2072443840","https://openalex.org/W2074925781","https://openalex.org/W2120832833","https://openalex.org/W2131668697","https://openalex.org/W2136885855","https://openalex.org/W2140728436","https://openalex.org/W2146482778","https://openalex.org/W2148226110","https://openalex.org/W2150864256","https://openalex.org/W2169437572","https://openalex.org/W2188936328","https://openalex.org/W3121654897","https://openalex.org/W4251564131"],"related_works":["https://openalex.org/W2073713056","https://openalex.org/W3110702597","https://openalex.org/W2078761926","https://openalex.org/W2110441383","https://openalex.org/W2125620709","https://openalex.org/W1498872724","https://openalex.org/W2142982208","https://openalex.org/W2186864281","https://openalex.org/W3124616626","https://openalex.org/W3125573662"],"abstract_inverted_index":{"We":[0,90],"present":[1],"a":[2,25,73],"new":[3],"combinatorial":[4,10,106,140],"market":[5,33,79,103,142],"maker":[6],"that":[7,43],"operates":[8],"arbitrage-free":[9,21,139],"prediction":[11,102,141],"markets":[12],"specified":[13],"by":[14,31],"integer":[15,52],"programs.":[16],"Although":[17],"the":[18,28,32,38,44,57,63,78,92,110,119,131],"problem":[19],"of":[20,59,97,123,137],"pricing,":[22],"while":[23],"maintaining":[24],"bound":[26],"on":[27,100,109,143],"subsidy":[29],"provided":[30],"maker,":[34],"is":[35,62,69,122,130],"#P-hard":[36],"in":[37],"worst":[39],"case,":[40],"we":[41],"posit":[42],"typical":[45],"case":[46],"might":[47],"be":[48],"amenable":[49],"to":[50,71],"modern":[51],"programming":[53],"(IP)":[54],"solvers.":[55],"At":[56],"crux":[58],"our":[60,98,127],"method":[61],"Frank-Wolfe":[64],"(conditional":[65],"gradient)":[66],"algorithm":[67],"which":[68],"used":[70],"implement":[72],"Bregman":[74],"projection":[75],"aligned":[76],"with":[77],"maker's":[80],"cost":[81],"function,":[82],"using":[83],"an":[84,88,138],"IP":[85],"solver":[86],"as":[87],"oracle.":[89],"demonstrate":[91],"tractability":[93],"and":[94,134],"improved":[95],"accuracy":[96],"approach":[99],"real-world":[101],"data":[104],"from":[105],"bets":[107],"placed":[108],"2010":[111],"NCAA":[112],"Men's":[113],"Division":[114],"I":[115],"Basketball":[116],"Tournament,":[117],"where":[118],"outcome":[120],"space":[121],"size":[124],"$2^{63}$.":[125],"To":[126],"knowledge,":[128],"this":[129,144],"first":[132],"implementation":[133],"empirical":[135],"evaluation":[136],"scale.":[145]},"counts_by_year":[{"year":2021,"cited_by_count":2}],"updated_date":"2026-03-10T16:38:18.471706","created_date":"2025-10-10T00:00:00"}