Related papers: Money as Minimal Complexity
Micromagnetic exchange is usually derived by performing the continuum limit of the Heisenberg model on a cubic lattice, where the exchange integrals are assumed to be identical for all nearest neighbors. This limitation normally imposes the…
We investigate approximately optimal mechanisms in settings where bidders' utility functions are non-linear; specifically, convex, with respect to payments (such settings arise, for instance, in procurement auctions for energy). We provide…
Cryptocurrencies such as Bitcoin and Ethereum have recently gained a lot of popularity, not only as a digital form of currency but also as an investment vehicle. Online marketplaces and exchanges allow users across the world to convert…
A matching cut is a matching that is also an edge cut. In the problem Minimum Matching Cut, we ask for a matching cut with the minimum number of edges in the matching. We investigate the differences in complexity between Minimum Matching…
A simple computer simulation model of a closed market on a fixed network with free flow of goods and money is introduced. The model contains only two variables : the amount of goods and money beside the size of the system. An initially flat…
Multi-marginal optimal transport (MOT) is a generalization of optimal transport to multiple marginals. Optimal transport has evolved into an important tool in many machine learning applications, and its multi-marginal extension opens up for…
We study balanced exchange problems in which agents with responsive preferences are endowed with multiple indivisible objects and can trade without transfers (e.g. shift exchange, time-banking). Eliciting full preferences over bundles is…
In the Token Swapping problem we are given a graph with a token placed on each vertex. Each token has exactly one destination vertex, and we try to move all the tokens to their destinations, using the minimum number of swaps, i.e.,…
We study the problem of scheduling jobs on parallel machines minimizing the total completion time, with each job using exactly one resource. First, we derive fundamental properties of the problem and show that the problem is polynomially…
Strategyproof mechanisms provide robust equilibrium with minimal assumptions about knowledge and rationality but can be unachievable in combination with other desirable properties such as budget-balance, stability against deviations by…
We study the mechanism design problem of selling $k$ items to unit-demand buyers with private valuations for the items. A buyer either participates directly in the auction or is represented by an intermediary, who represents a subset of…
We study the problem of fair division of a set of indivisible goods with connectivity constraints. Specifically, we assume that the goods are represented as vertices of a connected graph, and sets of goods allocated to the agents are…
Many models of market dynamics make use of the idea of wealth exchanges among economic agents. A simple analogy compares the wealth in a society with the energy in a physical system, and the trade between agents to the energy exchange…
We investigate a market without money in which agents can offer certain goods (or multiple copies of an agent-specific good) in exchange for goods of other agents. The exchange must be balanced in the sense that each agent should receive a…
We consider a sequential decision-making setting where, at every round $t$, a market maker posts a bid price $B_t$ and an ask price $A_t$ to an incoming trader (the taker) with a private valuation for one unit of some asset. If the trader's…
We introduce a dynamic mechanism design problem in which the designer wants to offer for sale an item to an agent, and another item to the same agent at some point in the future. The agent's joint distribution of valuations for the two…
The Coin Change problem, also known as the Change-Making problem, is a well-studied combinatorial optimization problem, which involves minimizing the number of coins needed to make a specific change amount using a given set of coin…
I study the welfare-maximizing allocation of heterogeneous goods when monetary transfers are prohibited. Agents have private values, and the designer chooses a mechanism subject to incentive compatibility and aggregate supply constraints. I…
The paper presents complexity results and performance guaranties for a family of approximation algorithms for an optimisation problem arising in software testing and manufacturing. The problem is formulated as a partitioning of a set where…
Combinatorial Multi-Armed Bandit with fairness constraints is a framework where multiple arms form a super arm and can be pulled in each round under uncertainty to maximize cumulative rewards while ensuring the minimum average reward…