Review : VCG Mechanism for Combinatorial
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منابع مشابه
Efficient Iterative Combinatorial Auctions
This survey considers the following setting. A seller wants to sell a set of indivisible goods. A set of buyers are interested in buying the goods. Buyers have private values for bundles of goods they are interested in buying. The seller’s objective is to allocate the goods to the buyers efficiently (maximizing the total utility of buyers). Since the values of buyers are private information, th...
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For the problem of allocating resources among multiple strategic agents, the well-known Vickrey-Clarke-Groves (VCG) mechanism is efficient, strategy-proof, and it never incurs a deficit. However, in general, under the VCG mechanism, payments flow out of the system of agents, which reduces the agents’ utilities. VCG redistribution mechanisms aim to return as much of the VCG payments as possible ...
متن کاملVCG-equivalent in expectation mechanism: general framework for constructing iterative combinatorial auction mechanisms
In this paper, we develop a new class of iterative mechanisms called a VCG-equivalent in expectation mechanism. Iterative auctions are preferred over their sealed-bid counterparts in practical settings, since they can avoid full revelation of type information. However, to guarantee that sincere strategies are an ex post equilibrium, the mechanism needs to achieve exactly the same outcome as the...
متن کاملValuation Compressions in VCG-Based Combinatorial Auctions
The focus of classic mechanism design has been on truthful direct-revelation mechanisms. In the context of combinatorial auctions the truthful direct-revelation mechanism that maximizes social welfare is the VCG mechanism. For many valuation spaces computing the allocation and payments of the VCG mechanism, however, is a computationally hard problem. We thus study the performance of the VCG mec...
متن کاملKnightian Analysis of the VCG Mechanism in Unrestricted Combinatorial Auctions
We consider auctions in which the players have very limited knowledge about their own valuations. Specifically, the only information that a Knightian player i has about the profile of true valuations, θ∗, consists of a set of distributions, from one of which θ∗ i has been drawn. The VCG mechanism guarantees very high social welfare both in singleand multi-good auctions, so long as Knightian pla...
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