Better redistribution with inefficient allocation in multi-unit auctions with unit demand

Abstract

For the problem of allocating one or more items among a group of competing agents, the Vickrey-Clarke-Groves (VCG) mechanism is strategy-proof and efficient. However, the VCG mechanism is not strongly budget balanced: in general, value flows out of the system of agents in the form of VCG payments, which reduces the agents' utilities. In many settings, the… (More)
DOI: 10.1145/1386790.1386825

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