NDLI: Ex-Post Equilibrium and VCG Mechanisms

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Ex-Post Equilibrium and VCG Mechanisms

Content Provider	ACM Digital Library
Author	Rozen, Rakefet Smorodinsky, Rann
Copyright Year	2014
Abstract	Consider an abstract social choice setting with incomplete information, where the number of alternatives is large. Albeit natural, implementing VCG mechanisms is infeasible due to the prohibitive communication constraints. However, if players restrict attention to a subset of the alternatives, feasibility may be recovered. This article characterizes the class of subsets that induce an ex-post equilibrium in the original game. It turns out that a crucial condition for such subsets to exist is the availability of a type-independent optimal social alternative for each player. We further analyze the welfare implications of these restrictions. This work follows that of Holzman et al. [2004] and Holzman and Monderer [2004] where similar analysis is done for combinatorial auctions.
Starting Page	1
Ending Page	28
Page Count	28
File Format	PDF
ISSN	21678375
e-ISSN	21678383
DOI	10.1145/2594565
Volume Number	2
Issue Number	2
Journal	ACM Transactions on Economics and Computation (TEAC)
Language	English
Publisher	Association for Computing Machinery (ACM)
Publisher Date	2014-06-01
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Communication complexity Ex-post equilibrium Mechanism design
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics Marketing Computational Mathematics Statistics and Probability Computer Science

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