CS 364 B : Frontiers in Mechanism Design
نویسنده
چکیده
Recall that in this scenario, the VCG mechanism — which is always DSIC and welfaremaximizing — can be implemented in polynomial time, as computing a welfare-maximizing allocation (and also the VCG payments) reduces to a bipartite matching problem. By the Revelation Principle, this is a logical prerequisite for the type of ascending auction that we’re looking for. Natural ascending auctions terminate at (approximate)Walrasian equilibria (WE). Recall that a WE is a price vector q and an allocation (i.e., matching) M such that:
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