@inproceedings{ce7ceb6e90b241ecb3c205e9b1fb8ada,

title = "Economic efficiency requires interaction",

abstract = "We study the necessity of interaction between individuals for obtaining approximately efficient economic allocations. We view this as a formalization of Hayek's classic point of view that focuses on the information transfer advantages that markets have relative to centralized planning. We study two settings: combinatorial auctions with unit demand bidders (bipartite matching) and combinatorial auctions with subadditive bidders. In both settings we provethat non-interactive protocols require exponentially larger communication costs than interactive ones, even those that only use a modest amount of interaction.",

keywords = "Auctions, Communication complexity, Matching",

author = "Shahar Dobzinski and Noam Nisan and Sigal Oren",

year = "2014",

doi = "10.1145/2591796.2591815",

language = "אנגלית",

isbn = "9781450327107",

series = "Proceedings of the Annual ACM Symposium on Theory of Computing",

publisher = "Association for Computing Machinery",

pages = "233--242",

booktitle = "STOC 2014 - Proceedings of the 2014 ACM Symposium on Theory of Computing",

note = "4th Annual ACM Symposium on Theory of Computing, STOC 2014 ; Conference date: 31-05-2014 Through 03-06-2014",

}