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Welfare Undominated Groves Mechanisms
[article]
2008
arXiv
pre-print
A common objective in mechanism design is to choose the outcome (for example, allocation of resources) that maximizes the sum of the agents' valuations, without introducing incentives for agents to misreport their preferences. The class of Groves mechanisms achieves this; however, these mechanisms require the agents to make payments, thereby reducing the agents' total welfare. In this paper we introduce a measure for comparing two mechanisms with respect to the final welfare they generate. This
arXiv:0810.2865v1
fatcat:vlqsvdxfqvhbfmrochjvzjau3y