{"title":"Optimal mechanism design with approximate incentive compatibility and many players","authors":"Pathikrit Basu","doi":"10.22574/jmid.2023.12.004","DOIUrl":null,"url":null,"abstract":"We consider a setting in which a mechanism designer must choose the appropriate social alternative depending on the state of nature. We study the problem of optimal design and demonstrate that a mechanism which allocates resources so as to achieve the social optimum and assigns payments equal to the posterior expected utility of the agent at the social optimum, is an epsilon-optimal mechanism for environments with many players.","PeriodicalId":32451,"journal":{"name":"Journal of Mechanism and Institution Design","volume":"6 4","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Mechanism and Institution Design","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22574/jmid.2023.12.004","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
We consider a setting in which a mechanism designer must choose the appropriate social alternative depending on the state of nature. We study the problem of optimal design and demonstrate that a mechanism which allocates resources so as to achieve the social optimum and assigns payments equal to the posterior expected utility of the agent at the social optimum, is an epsilon-optimal mechanism for environments with many players.
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