Year: 2010
Type: article
Abstract: We present an incentive-compatible polynomial-time approximation scheme for multi-unit auctions with general k-minded player valuations. The mechanism fully optimizes over an appropriately chosen sub-range of possible allocations and then uses VCG payments over this sub-range. We show that obtaining a fully polynomial-time incentive-compatible approximation scheme, at least using VCG payments, is NP-hard. For the case of valuations given by black boxes, we give a polynomial-time incentive-compatible 2-approximation mechanism and show that no better is possible, at least using VCG payments.
DOI: 10.1613/jair.2950
Authors: S. Dobzinski, N. Nisan
Institutions: Cornell University, Hebrew University of Jerusalem
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W1910043916