Optimal decision-making with minimal waste: strategyproof redistribution of VCG payments
AAMAS '06 Proceedings of the fifth international joint conference on Autonomous agents and multiagent systems
Worst-case optimal redistribution of VCG payments
Proceedings of the 8th ACM conference on Electronic commerce
Incentive compatible regression learning
Proceedings of the nineteenth annual ACM-SIAM symposium on Discrete algorithms
Better redistribution with inefficient allocation in multi-unit auctions with unit demand
Proceedings of the 9th ACM conference on Electronic commerce
Efficiency and redistribution in dynamic mechanism design
Proceedings of the 9th ACM conference on Electronic commerce
Approximate mechanism design without money
Proceedings of the 10th ACM conference on Electronic commerce
Strategy-proof allocation of multiple items between two agents without payments or priors
Proceedings of the 9th International Conference on Autonomous Agents and Multiagent Systems: volume 1 - Volume 1
Tight bounds for strategyproof classification
The 10th International Conference on Autonomous Agents and Multiagent Systems - Volume 1
Algorithms for strategyproof classification
Artificial Intelligence
Mechanism design on discrete lines and cycles
Proceedings of the 13th ACM Conference on Electronic Commerce
Approximate Mechanism Design without Money
ACM Transactions on Economics and Computation
| Hi-index | 0.00 |
We study the problem of allocating a single item repeatedly among multiple competing agents, in an environment where monetary transfers are not possible. We design (Bayes-Nash) incentive compatible mechanisms that do not rely on payments, with the goal of maximizing expected social welfare. We first focus on the case of two agents. We introduce an artificial payment system, which enables us to construct repeated allocation mechanisms without payments based on one-shot allocation mechanisms with payments. Under certain restrictions on the discount factor, we propose several repeated allocation mechanisms based on artificial payments. For the simple model in which the agents' valuations are either high or low, the mechanism we propose is 0.94-competitive against the optimal allocation mechanism with payments. For the general case of any prior distribution, the mechanism we propose is 0.85-competitive. We generalize the mechanism to cases of three or more agents. For any number of agents, the mechanism we obtain is at least 0.75-competitive. The obtained competitive ratios imply that for repeated allocation, artificial payments may be used to replace real monetary payments, without incurring too much loss in social welfare.