Slide 5
Slide 5 text
Multi-Unit Auction
! identical items, " bidders
Each bidder has private valuation function:
#$
: 0, … , ! → ℝ+
#$
, = value to bidder 9 for receiving , units
#$
0 = 0, ∀, ∈ 0, … , ! − 1 : #$
, ≤ #$
(, + 1)
Goal: maximize social welfare = ∑
$
#$
!$
where ∑
$
!$
≤ !
4
Noam Nisan, Algorithmic Mechanism Design, 2014.