Single-Sample Bilateral Trade with a Broker
MohammadTaghi Hajiaghayi, Gary Peng, Suho Shin
摘要
We initiate the study of single-sample bilateral trade with a broker, drawing an analogy to the setting of single-sample bilateral trade without a broker considered in Babaioff et al. (2020) and Cai and Wu (2023) . Our model captures the three-sided interaction in which a broker mediates trade between a buyer and seller, each described by a valuation distribution from which a single sample can be drawn. We consider two settings in particular: one where the valuation distributions of the buyer and seller are identical and one where the valuation distributions are stochastically ordered. We analyze simple mechanisms that rely only on a single sample from each agent's distribution and show that these mechanisms achieve constant-factor approximations to the first-best gains-from-trade (GFT), first-best social welfare (SW), and optimal profit under the standard monotone-hazard-rate assumption. We then complement these results with matching or nearly matching upper bounds on the GFT and SW of our mechanisms. Notably, in both settings, we observe fairly small losses in the approximation factors to the first-best GFT and first-best SW due to the existence of the broker (benchmarked against the corresponding approximation factors in the setting without a broker). Furthermore, our results stand in stark contrast to those of Hajiaghayi et al. (2025) , who show inapproximability results under a strategic broker with full distributional knowledge. Our results provide insight into the design of data-efficient brokerage mechanisms for online marketplaces and decentralized trading platforms, where intermediaries must facilitate trade under severe informational constraints. They highlight how even minimal data can enable robust and incentive-compatible brokerage in uncertain markets for both the broker and the market participants.
问问这篇 Paper
智能体会读完全文。
Lune 把这篇 Paper 索引到了每一个公式,引用它的顶会 Paper 也一样。你提问,回答直接引用原文。
它引用的顶会 Paper7
- Efficient two-sided markets with limited informationPaul Dütting, Federico Fusco, Philip Lazos, Stefano Leonardi 等STOC 2021 · 被引用 18 次
- Approximately efficient bilateral tradeYuan Deng, Jieming Mao, Balasubramanian Sivan, Kangning WangSTOC 2022 · 被引用 13 次
- Fixed-Price Approximations in Bilateral TradeZi Yang Kang, Francisco Pernice, Jan VondrákSODA 2022 · 被引用 13 次
- Bulow-Klemperer-Style Results for Welfare Maximization in Two-Sided MarketsMoshe Babaioff, Kira Goldner, Yannai A. GonczarowskiSODA 2020 · 被引用 12 次
- Improved Approximation Ratios of Fixed-Price Mechanisms in Bilateral TradesZhengyang Liu, Zeyu Ren, Zihe WangSTOC 2023 · 被引用 7 次
相关 Paper
- Gains-from-Trade in Bilateral Trade with a BrokerIlya Hajiaghayi, MohammadTaghi Hajiaghayi, Gary Peng, Suho ShinSODA 2025 · 被引用 2 次
- On the Optimal Fixed-Price Mechanism in Bilateral TradeYang Cai, Jinzhao WuSTOC 2023 · 被引用 7 次
- Bilateral Trade with Correlated ValuesShahar Dobzinski, Ariel ShaulkerSTOC 2024 · 被引用 2 次
- Approximating Gains-from-Trade in Matching MarketsMoshe Babaioff, Aviad Rubinstein, Xizhi Tan, Kangning WangSTOC 2026 · 被引用 6 次
- Nearly Tight Regret Bounds for Profit Maximization in Bilateral TradeSimone Di Gregorio, Paul Dütting, Federico Fusco, Chris SchwiegelshohnFOCS 2025 · 被引用 1 次
