Strongly budget balanced auctions for multi-sided markets

摘要

In two-sided markets, Myerson and Satterthwaite's impossibility theorem states that one can not maximize the gain-from-trade while also satisfying truthfulness, individual-rationality and no deficit. Attempts have been made to circumvent Myerson and Satterthwaite's result by attaining approximately-maximum gain-from-trade: the double-sided auction of McAfee (1992) [35] is truthful and has no deficit — it is weakly-budget-balanced, and the one by Segal-Halevi et al.'s (2016) [38] additionally has no surplus — it is strongly-budget-balanced. They consider two categories of agents — buyers and sellers, where each trade set is composed of a single buyer and a single seller.