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Classical Bayesian mechanism design relies on the common prior assumption, but the common prior is often not available in practice. We study the design of prior-independent mechanisms that relax this assumption: the seller is selling an indivisible item to n buyers such that the buyers’...
Persistent link: https://www.econbiz.de/10013289909
Non-monetary mechanisms for repeated allocation and decision-making are gaining widespread use in many real-world settings. Our aim in this work is to study the performance and incentive properties of simple mechanisms based on artificial currencies in such settings.To this end, we make the...
Persistent link: https://www.econbiz.de/10012901929
Collusion has long been the Achilles heel of mechanism design, as most results break down when participating agents can collude. The issue is more severe when monetary transfers (bribes) between agents are feasible, wherein it is known that truthful revelation and efficient allocation are...
Persistent link: https://www.econbiz.de/10012899989