TY - GEN
T1 - Mechanisms for multi-unit auctions
AU - Dobzinski, Shahar
AU - Nisan, Noam
PY - 2007
Y1 - 2007
N2 - We present an incentive-compatible polynomial-time approximation scheme for multi-unit auctions with general k-minded playervaluations. 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.
AB - We present an incentive-compatible polynomial-time approximation scheme for multi-unit auctions with general k-minded playervaluations. 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.
KW - Combinatorial auctions
KW - Incentive compatibility
UR - http://www.scopus.com/inward/record.url?scp=36448932336&partnerID=8YFLogxK
U2 - 10.1145/1250910.1250960
DO - 10.1145/1250910.1250960
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AN - SCOPUS:36448932336
SN - 159593653X
SN - 9781595936530
T3 - EC'07 - Proceedings of the Eighth Annual Conference on Electronic Commerce
SP - 346
EP - 351
BT - EC'07 - Proceedings of the Eighth Annual Conference on Electronic Commerce
T2 - 8th ACM Conference on Electronic Commerce, EC'07
Y2 - 11 June 2007 through 15 June 2007
ER -