Mechanisms for combinatorial auctions with budget constraints |
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Authors: | Phuong Le |
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Institution: | 1.Stanford University,Stanford,USA |
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Abstract: | This paper studies combinatorial auctions with budget-constrained bidders from a mechanism design perspective. I search for mechanisms that are incentive compatible, individually rational, symmetric, non-wasteful and non-bossy. First focusing on the greedy domain, in which any increase in a bidder’s valuation always exceeds his budget, I derive the unique mechanism, called the Iterative Second Price Auction. For the general domain, however, no such mechanism exists. |
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