## Approximately-Strategyproof and Tractable Multi-Unit Auctions (2004)

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Citations: | 54 - 11 self |

### BibTeX

@MISC{Kothari04approximately-strategyproofand,

author = {Anshul Kothari and David C. Parkes and Subhash Suri},

title = {Approximately-Strategyproof and Tractable Multi-Unit Auctions},

year = {2004}

}

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### Abstract

We present an approximately-efficient and approximately-strategyproof auction mechanism for a single-good multi-unit allocation problem. The bidding language allows marginaldecreasing piecewise constant curves and quantity-based side constraints. We develop a fully polynomial-time approximation scheme for the multi-unit allocation problem, which computes a -approximation in worst-case time , given bids each with a constant number of pieces. We integrate this approximation scheme within a VickreyClarke -Groves mechanism and compute payments for an asymptotic cost of ! . The maximal possible gain from manipulation to a bidder in the combined scheme is bounded by 4294-16716 " is the total surplus in the efficient outcome.

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Citation Context ... she demands. The forward variation models, for example, an auction to sell excess inventory in flexible-sized lots. We consider the computational complexity of implementing the Vickrey-Clarke-Groves =-=[22, 5, 11]-=- mechanism for the multiunit auction problem. The Vickrey-Clarke-Groves (VCG) mechanism has a number of interesting economic properties in this setting, including strategyproofness, such that truthful... |

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Citation Context ...ade a divisible good. The focus of this paper is also different: it investigates the equilibrium prices using the demand and supply curves, whereas our focus is on efficient mechanism design. Ausubel =-=[1]-=- has proposed an ascending-price multi-unit auction for buyers with marginal-decreasing values [1], with an interpretation as a primal-dual algorithm [2]. 2. APPROXIMATELY-STRATEGYPROOF VCG AUCTIONS I... |