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Approximations and Truthfulness: The Case of Multi-Unit Auctions. Shahar Dobzinski Joint work with Noam Nisan and with Shaddin Dughmi. Auctions. Clean Air Auction. 1990’s: The US government decided to decrease the atmospheric levels of sulfur dioxide. - PowerPoint PPT Presentation
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Theorem: There exists a truthful poly time randomized (1-)-approximation mechanism.
Theorem: There exists a poly time deterministic truthful ½-approximation mechanism.
The mechanism: (1)Split the items into n2 equi-sized bundles each of size m/n2.(2)Allocate these bundles optimally.
Theorem: Every maximal-in-range (½+)-approx algorithm requires at least m queries to the black boxes.