2014/04/27 by Liad Blumrosen, Shahar Dobzinski, Blumrosen, Liad +1 · 1 citation
Computer Science · Decision Sciences · Economics, Econometrics and Finance · #Auction Theory and Applications #Computer Science and Game Theory (cs.GT) #Economic theories and models #FOS: Computer and information sciences #Game Theory and Applications #cs.GT
paper · pdf · doi:10.48550/arxiv.1404.6786
arxiv created 2014/04/27 · openalex publication_date 2014/04/27 · arxiv updated 2014/04/29 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
We consider reallocation problems in settings where the initial endowment of each agent consists of a subset of the resources. The private information of the players is their value for every possible subset of the resources. The goal is to redistribute resources among agents to maximize efficiency. Monetary transfers are allowed, but participation is voluntary. We develop incentive-compatible, individually-rational and budget balanced mechanisms for several classic settings, including bilateral trade, partnership dissolving, Arrow-Debreu markets, and combinatorial exchanges. All our mechanisms (except one) provide a constant approximation to the optimal efficiency in these settings, even in ones where the preferences of the agents are complex multi-parameter functions.