Abstract
Some notions in mechanism design are correlated to concepts from game theory. The notion of frugality is formalized and extended to define the frugality ratio of a mechanism. The equivalence of frugality is established and a slightly modified version of the agents are substitutes condition. This leads to a three-way equivalence of the core being a lattice, agents satisfying the substitutes condition, and the VCG payment being frugal.
| Original language | English |
|---|---|
| Pages | 248-249 |
| Number of pages | 2 |
| State | Published - 2003 |
| Event | Proceedings of the 4th ACM Conference on Electronic Commerce - San Diego, CA, United States Duration: Jun 9 2003 → Jun 12 2003 |
Conference
| Conference | Proceedings of the 4th ACM Conference on Electronic Commerce |
|---|---|
| Country/Territory | United States |
| City | San Diego, CA |
| Period | 06/9/03 → 06/12/03 |
Keywords
- Agents
- Core
- Frugality
- Game theory
- Lattice
- Substitutes
- VCG mechanism
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