Mechanisms for multi-unit auctions

  • Authors:
  • Shahar Dobzinski;Noam Nisan

  • Affiliations:
  • Computer Science Department, Cornell University, Ithaca, NY;The School of Computer Science and Engineering, The Hebrew University of Jerusalem, Jerusalem, Israel

  • Venue:
  • Journal of Artificial Intelligence Research
  • Year:
  • 2010

Quantified Score

Hi-index 0.00

Visualization

Abstract

We present an incentive-compatible polynomial-time approximation scheme for multiunit 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.