Related papers: Constant Function Market Making, Social Welfare an…
Fair allocation of indivisible goods studies allocating $m$ goods among $n$ agents in a fair manner. While fairness is a fundamental requirement in many real-world applications, it often conflicts with (economic) efficiency. This raises a…
Consider a barter exchange problem over a finite set of agents, where each agent owns an item and is also associated with a (privately known) wish list of items belonging to the other agents. An outcome of the problem is a (re)allocation of…
In this paper, we consider dynamic multi-agent systems (MAS) for decentralized resource allocation. The MAS operates at a competitive equilibrium to ensure supply and demand are balanced. First, we investigate the MAS over a finite horizon.…
We study axiomatic foundations for different classes of constant-function automated market makers (CFMMs). We focus particularly on separability and on different invariance properties under scaling. Our main results are an axiomatic…
We develop an axiomatic theory for Automated Market Makers (AMMs) in local energy sharing markets and analyze the Markov Perfect Equilibrium of the resulting economy with a Mean-Field Game. In this game, heterogeneous prosumers solve a…
We consider dominant strategy implementation in private values settings, when agents have multi-dimensional types, the set of alternatives is finite, monetary transfers are allowed, and agents have quasi-linear utilities. We show that any…
An overview of different variants of the submodular welfare maximization problem in combinatorial auctions. In particular, I studied the existing algorithmic and game theoretic results for submodular welfare maximization problem and its…
We consider a continuous-time market with proportional transaction costs. Under appropriate assumptions we prove the existence of optimal strategies for investors who maximize their worst-case utility over a class of possible models. We…
This paper investigates the trade-off between short-term revenue generation and long-term social welfare optimization in online food delivery platforms. We first develop a static model that captures the equilibrium interactions among…
Public blockchains group submitted transactions into batches, called blocks. A natural question is how to determine which transactions are included in these batches. In this note, we show a gap between the welfare of so-called `fair'…
This paper aims to investigate how a central authority (e.g. a government) can increase social welfare in a network of markets and firms. In these networks, modeled using a bipartite graph, firms compete with each other \textit{\`a la}…
Constant function market makers(CFMMS) are a popular market design for decentralized exchanges(DEX). Liquidity providers(LPs) supply the CFMMs with assets to enable trades. In exchange for providing this liquidity, an LP receives a token…
In uniform-price markets, suppliers compete to supply a resource to consumers, resulting in a single market price determined by their competition. For sufficient flexibility, producers and consumers prefer to commit to a function as their…
A multiagent system may be thought of as an artificial society of autonomous software agents and we can apply concepts borrowed from welfare economics and social choice theory to assess the social welfare of such an agent society. In this…
We study the problem of allocating indivisible items on a path among agents. The objective is to find a fair and efficient allocation in which each agent's bundle forms a contiguous block on the line. We say that an instance is \emph{$(a,…
We introduce a general approach based on \emph{selective verification} and obtain approximate mechanisms without money for maximizing the social welfare in the general domain of utilitarian voting. Having a good allocation in mind, a…
Empirical Welfare Maximization (EWM) is a framework that can be used to select welfare program eligibility policies based on data. This paper extends EWM by allowing for uncertainty in estimating the budget needed to implement the selected…
We present a method for constructing Constant Function Market Makers (CFMMs) whose portfolio value functions match a desired payoff. More specifically, we show that the space of concave, nonnegative, nondecreasing, 1-homogeneous payoff…
We study the fair allocation of indivisible items to $n$ agents to maximize the utilitarian social welfare, where the fairness criterion is envy-free up to one item and there are only two different utility functions shared by the agents. We…
In this paper, we present new results on the fair and efficient allocation of indivisible goods to agents whose preferences correspond to {\em matroid rank functions}. This is a versatile valuation class with several desirable properties…