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Efficiency of the First-Price Auction in the Autobidding World

Neural Information Processing Systems

We study the price of anarchy of first-price auctions in the autobidding world, where bidders can be either utility maximizers (i.e., traditional bidders) or value maximizers (i.e., autobidders).







20 riveting images from the Sony World Photography Awards 2026

Popular Science

Chile's Torres Del Paine is famous for its stunning landscapes, but it's also home to a fierce predator: the puma. These majestic creatures feed primarily on guanacos, although the hunting success rate is not very high, especially for female pumas. The photographer followed this female and her two cubs for several days, before witnessing her hunting. Breakthroughs, discoveries, and DIY tips sent six days a week. In Chile's famous Torres Del Paine National Park, a mother puma with her two cubs in tow attacks a guanaco.