Sequential Pivotal Mechanisms for Public Project Problems
نویسندگان
چکیده
منابع مشابه
Sequential Pivotal Mechanisms for Public Project Problems
It is well-known that for several natural decision problems no budget balanced Groves mechanisms exist. This has motivated recent research on designing variants of feasible Groves mechanisms (termed as ‘redistribution of VCG (Vickrey-Clarke-Groves) payments’) that generate reduced deficit. With this in mind, we study sequential pivotal mechanisms and consider optimal strategies that can lower t...
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Redistribution of VCG payments has been mostly studied in the context of resource allocation. This paper focuses on another fundamental model—the public project problem. In this scenario, the VCG mechanism collects in payments up to n−1 n of the total value of the agents. This collected revenue represents a loss of social welfare. Given this, we study how to redistribute most of the VCG revenue...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1618799