Algorithmic mechanism design (extended abstract)
STOC '99 Proceedings of the thirty-first annual ACM symposium on Theory of computing
SODA '02 Proceedings of the thirteenth annual ACM-SIAM symposium on Discrete algorithms
Truth revelation in approximately efficient combinatorial auctions
Journal of the ACM (JACM)
The Price of Truth: Frugality in Truthful Mechanisms
STACS '03 Proceedings of the 20th Annual Symposium on Theoretical Aspects of Computer Science
Truthful approximation mechanisms for restricted combinatorial auctions: extended abstract
Eighteenth national conference on Artificial intelligence
Truthful Mechanisms for One-Parameter Agents
FOCS '01 Proceedings of the 42nd IEEE symposium on Foundations of Computer Science
Proceedings of the 6th ACM conference on Electronic commerce
Towards truthful mechanisms for binary demand games: a general framework
Proceedings of the 6th ACM conference on Electronic commerce
Beyond VCG: Frugality of Truthful Mechanisms
FOCS '05 Proceedings of the 46th Annual IEEE Symposium on Foundations of Computer Science
Computing with strategic agents
Computing with strategic agents
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Most of the recent works on algorithmic mechanism design exploit the solution concept of dominant strategy equilibria. Such work designs a proper payment scheme so that selfish agents maximize their utility by truthfully revealing their types. It has been pointed out that these truthful mechanisms, the famous among them being the VCG mechanisms, often incur high payments and fruglity ratios. In this work, we exploit the solution concept of Nash implementation to overcome this problem. Our mechanisms induce a set of Nash equilibria so that selfish agents have incentive to act based on a Nash equilibrium. We prove that our mechanisms enjoy substantial advantages over the truthful mechanisms in terms of payment and frugality.