The Generalized Random Priority Mechanism with Budgets∗
نویسندگان
چکیده
This paper studies allocation problems with and without monetary transfers, such as multi-unit auctions, school choice, and course assignment. For this class of problems, we introduce a generalized random priority mechanism with budgets (GRP). This mechanism is always ex post incentive compatible and feasible. Moreover, as the market grows large, this mechanism can approximate any incentive compatible mechanism in the corresponding continuum economy. In particular, GRP can be used to approximate efficient and envy-free allocations, while preserving incentive compatibility and feasibility.
منابع مشابه
A Comparative Review of Selection Models in Longitudinal Continuous Response Data with Dropout
Missing values occur in studies of various disciplines such as social sciences, medicine, and economics. The missing mechanism in these studies should be investigated more carefully. In this article, some models, proposed in the literature on longitudinal data with dropout are reviewed and compared. In an applied example it is shown that the selection model of Hausman and Wise (1979, Econometri...
متن کاملPosition Auctions with Budgets: Existence and Uniqueness
We design a Generalized Position Auction for players with private values and private budget constraints. Our Mechanism is a careful modification of the Generalized English Auction of Edelman, Ostrovsky and Schwarz (2007). By enabling multiple price trajectories that ascent concurrently we are able to retrieve all the desired propertied of the Generalized English Auction, that was not originally...
متن کاملA Generalized Packing Server for Scheduling Task Graphs on Multiple Resources
This paper presents the generalized packing server. It reduces the problem of scheduling tasks with precedence constraints on multiple processing units to the problem of scheduling independent tasks. The work generalizes our previous contribution made in the specific context of scheduling Map/Reduce workflows. The results apply to the generalized parallel task model, introduced in recent litera...
متن کاملTowards pragmatic solutions for two-level hierarchical scheduling Part I: A basic approach for independent applications
Resource reservation has been proposed in the literature as a means to prevent temporal interference between applications. With applications consisting of one or more real-time tasks, resource reservation inherently involves multiple levels of scheduling, i.e. a scheduling hierarchy. This document considers two-level hierarchical scheduling for independent applications in cost-constrained syste...
متن کاملAsymptotic Equivalence of Probabilistic Serial and Random Priority Mechanisms
The random priority (random serial dictatorship) mechanism is a common method for assigning objects to individuals. The mechanism is easy to implement and strategy-proof. However this mechanism is inefficient, as the agents may be made all better off by another mechanism that increases their chances of obtaining more preferred objects. Such an inefficiency is eliminated by the recent mechanism ...
متن کامل