Abstract
Mechanism design is a subfield of game theory that aims to design games whose equilibria have desired properties such as achieving high efficiency or high revenue. Algorithmic mechanism design is a subfield that lies on the border of mechanism design and computer science and deals with mechanism design in algorithmically complex scenarios that are often found in computational settings such as the Internet. The central challenge in algorithmic mechanism design is the tension between the computational constraints and the game-theoretic ones. This survey demonstrates both the tension and ways of addressing it by focusing on a single simple problem: multiunit auctions. A variety of issues will be discussed: representation, computational hardness, communication, convexity, approximations, Vickrey-Clarke-Groves (VCG) mechanisms and their generalizations, single-parameter settings vs. multiparameter settings, and the power of randomness.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Handbook of Game Theory with Economic Applications
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
