Generalization of the MV Mechanism
Micali and Valiant proposed a mechanism for combinatorial auctions that is dominant-strategy truthful, guarantees reasonably high revenue, and is very resilient against collusions. Their mechanism, however, uses as a subroutine the VCG mechanism, that is not polynomial time.We propose a modification...
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2008
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| Online Access: | http://hdl.handle.net/1721.1/41515 |
| Summary: | Micali and Valiant proposed a mechanism for combinatorial auctions that is dominant-strategy truthful, guarantees reasonably high revenue, and is very resilient against collusions. Their mechanism, however, uses as a subroutine the VCG mechanism, that is not polynomial time.We propose a modification of their mechanism that is efficient, while retaining their collusion resilience and a good fraction of their revenue, if given as a subroutine an efficient approximation of the VCG mechanism. |
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