Mechanism Design for Fair Division

  title={Mechanism Design for Fair Division},
  author={Richard Cole and Vasilis Gkatzelis and Gagan Goel},
We revisit the classic problem of fair division from a mechanism design perspective and provide an elegant truthful mechanism that yields surprisingly good approximation guarantees for the widely used solution of Proportional Fairness. This solution, which is closely related to Nash bargaining and the competitive equilibrium, is known to be not implementable in a truthful fashion, which has been its main drawback. To alleviate this issue, we propose a new mechanism, which we call the Partial… CONTINUE READING

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