2013arXiv (Cornell University)Open access

Near-Optimal and Robust Mechanism Design for Covering Problems with\n Correlated Players

Hadi Minooei, Chaitanya Swamy

Open full text 0 citations

Abstract

We consider the problem of designing incentive-compatible, ex-post\nindividually rational (IR) mechanisms for covering problems in the Bayesian\nsetting, where players' types are drawn from an underlying distribution and may\nbe correlated, and the goal is to minimize the expected total payment made by\nthe mechanism. We formulate a notion of incentive compatibility (IC) that we\ncall {\\em support-based IC} that is substantially more robust than Bayesian IC,\nand develop black-box reductions from support-based-IC mechanism design to\nalgorithm design. For single-dimensional settings, this black-box reduction\napplies even when we only have an LP-relative {\\em approximation algorithm} for\nthe algorithmic problem. Thus, we obtain near-optimal mechanisms for various\ncovering settings including single-dimensional covering problems, multi-item\nprocurement auctions, and multidimensional facility location.\n

Open-access reader

About this research paper

What this paper is about

We consider the problem of designing incentive-compatible, ex-post\nindividually rational (IR) mechanisms for covering problems in the Bayesian\nsetting, where players' types are drawn from an underlying distribution and may\nbe correlated, and the goal is to minimize the expected total payment made by\nthe mechanism. We formulate a notion of incentive compatibility (IC) that we\ncall {\\em support-based IC} that is substantially more robust than Bayesian IC,\nand develop black-box reductions from support-based-IC mechanism design to\nalgorithm design. For single-dimensional settings, this black-box reduction\napplies even when we only have an LP-relative {\\em approximation algorithm} for\nthe algorithmic problem. Thus, we obtain near-optimal mechanisms for various\ncovering settings including single-dimensional covering problems, multi-item\nprocurement auctions, and multidimensional facility location.\n

Why it matters

A significance statement is not available in the OpenAlex record.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

We consider the problem of designing incentive-compatible, ex-post\nindividually rational (IR) mechanisms for covering problems in the Bayesian\nsetting, where players' types are drawn from an underlying distribution and may\nbe correlated, and the goal is to minimize the expected total payment made by\nthe mechanism. We formulate a notion of incentive compatibility (IC) that we\ncall {\\em support-based IC} that is substantially more robust than Bayesian IC,\nand develop black-box reductions from support-based-IC mechanism design to\nalgorithm design. For single-dimensional settings, this black-box reduction\napplies even when we only have an LP-relative {\\em approximation algorithm} for\nthe algorithmic problem. Thus, we obtain near-optimal mechanisms for various\ncovering settings including single-dimensional covering problems, multi-item\nprocurement auctions, and multidimensional facility location.\n

Key concepts: Incentive compatibility, Mechanism design, Mathematical optimization, Computer science, Bayesian probability, Common value auction, Payment, Procurement

Related papers

Back to paper searchBrowse research topicsOriginal source
Near-Optimal and Robust Mechanism Design for Covering Problems with\n Correlated Players — Research Paper | ScholarLens