Approximately optimal mechanism design

Tim Roughgarden
2015 ACM SIGecom Exchanges  
This survey describes the approximately optimal mechanism design paradigm and uses it to investigate two basic questions in auction theory. First, when is complexity -in the sense of detailed distributional knowledge -an essential feature of revenue-maximizing single-item auctions? Second, do combinatorial auctions require high-dimensional bid spaces to achieve good social welfare?
doi:10.1145/2728732.2728733 fatcat:mofyhzcs3bd35kcrm6vxgngz3y