## Incentive compatible budget elicitation in multi-unit auctions (2010)

Venue: | In Proceedings of the Annual ACM-SIAM Symposium on Discrete Algorithms (SODA |

Citations: | 8 - 4 self |

### BibTeX

@INPROCEEDINGS{Bhattacharya10incentivecompatible,

author = {Sayan Bhattacharya and Vincent Conitzer and Kamesh Munagala and Lirong Xia},

title = {Incentive compatible budget elicitation in multi-unit auctions},

booktitle = {In Proceedings of the Annual ACM-SIAM Symposium on Discrete Algorithms (SODA},

year = {2010},

pages = {554--572}

}

### OpenURL

### Abstract

In this paper, we consider the problem of designing incentive compatible auctions for multiple (homogeneous) units of a good, when bidders have private valuations and private budget constraints. When only the valuations are private and the budgets are public, Dobzinski et al [8] show that the adaptive clinching auction is the unique incentive-compatible auction achieving Pareto-optimality. They further show that this auction is not truthful with private budgets, so that there is no deterministic Pareto-optimal auction with private budgets. Our main contribution is to show the following Budget Monotonicity property of this auction: When there is only one infinitely divisible good, a bidder cannot improve her utility by reporting a budget smaller than the truth. This implies that the adaptive clinching auction is incentive

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Citation Context ...ng by all agents. Practical Implications. The primary motivation for studying multi-unit auctions with budget constraints is the Google TV ad system [9]. Furthermore, related ascending price auctions =-=[2, 3, 13]-=- are used in the FCC spectrum auctions. Therefore, analyzing properties of such auctions is not only of theoretical interest, but might pave the way for better auction design in practice. Bayesian Set... |

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Citation Context ...tions for multiple (homogeneous) units of a good, when bidders have private valuations and private budget constraints. When only the valuations are private and the budgets are public, Dobzinski et al =-=[8]-=- show that the adaptive clinching auction is the unique incentive-compatible auction achieving Pareto-optimality. They further show that this auction is not truthful with private budgets, so that ther... |

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Citation Context ...hence only Paretooptimal conditioned on truth-telling by all agents. Practical Implications. The primary motivation for studying multi-unit auctions with budget constraints is the Google TV ad system =-=[9]-=-. Furthermore, related ascending price auctions [2, 3, 13] are used in the FCC spectrum auctions. Therefore, analyzing properties of such auctions is not only of theoretical interest, but might pave t... |