Self-play RL in a takeover auction model shows optimal due diligence is modest and finite, decreasing with cost and competition, while simple general methods outperform specialized ones in large intractable games.
Marc Lanctot, Kevin Waugh, Martin Zinkevich, and Michael Bowling
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How Much Due Diligence Before You Bid? Learning in Intractable Takeover Auctions
Self-play RL in a takeover auction model shows optimal due diligence is modest and finite, decreasing with cost and competition, while simple general methods outperform specialized ones in large intractable games.