Polyhedral Clinching Auctions for Indivisible Goods

In this study, we propose a polyhedral clinching auction for indivisible goods, which has so far been studied for divisible goods. As in the divisible setting by Goel et al. (2015), our mechanism enjoys incentive compatibility, individual rationality, and Pareto optimality, and works with polymatroidal environments. A notable feature of this mechanism for the indivisible setting is that the entire procedure can be conducted in time polynomial of the number of buyers and goods. Moreover, we show additional efficiency guarantees, recently established by Sato for the divisible setting: the liquid welfare (LW) of our mechanism achieves more than half of the optimal LW, and the social welfare is more than the optimal LW.

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Publication Details

Journal
ACM Transactions on Economics and Computation
Published
2024-12-19
DOI
https://doi.org/10.1145/3708506
Primary Topic
Auction Theory and Applications
Type
article
Field-Weighted Citation Impact
0.00

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article

Polyhedral Clinching Auctions for Indivisible Goods

Ryosuke SATO, Hiroshi Hirai
ACM Transactions on Economics and Computation
Auction Theory and Applications
article

Polyhedral Clinching Auctions for Indivisible Goods

Ryosuke SATO, Hiroshi Hirai
article en

Abstract

In this study, we propose a polyhedral clinching auction for indivisible goods, which has so far been studied for divisible goods. As in the divisible setting by Goel et al. (2015), our mechanism enjoys incentive compatibility, individual rationality, and Pareto optimality, and works with polymatroidal environments. A notable feature of this mechanism for the indivisible setting is that the entire procedure can be conducted in time polynomial of the number of buyers and goods. Moreover, we show additional efficiency guarantees, recently established by Sato for the divisible setting: the liquid welfare (LW) of our mechanism achieves more than half of the optimal LW, and the social welfare is more than the optimal LW.

ACM Transactions on Economics and ComputationVol. 13(1)
Keio University (JP), Nagoya University (JP)
Japan Society for the Promotion of Science, Exploratory Research for Advanced Technology
Openalex Percentile: Top 71%
Auction Theory and Applications
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Polyhedral Clinching Auctions for Indivisible Goods — Ryosuke SATO, Hiroshi Hirai · ACM Transactions on Economics and Computation (2024) | TGRS Research Map | TGRS