A new approach to auctions and resilient mechanism design

We put forward a new approach to mechanism design, and exemplify it via a new mechanism guaranteeing significant revenue in unrestricted combinatorial auctions. Our mechanism ? succeeds in a new and very adversarial collusion model; ? works in a new, equilibrium-less, and very strong solution concept; ? benchmarks its performance against the knowledge that the players have about each other; ? is computationally efficient and preserves the players' privacy to an unusual extent.

• Type: Conference
• Year: 2009
• Where: STOC
• Authors: Jing Chen, Silvio Micali
• Keywords: Adversarial Collusion Model, Algorithms, Mechanism Design, STOC 2009, Unrestricted Combinatorial Auctions