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Public Projects, Boolean Functions, and the Borders of Border’s Theorem

Public Projects, Boolean Functions, and the Borders of Border’s Theorem Border’s theorem gives an intuitive linear characterization of the feasible interim allocation rules of a Bayesian single-item environment, and it has several applications in economic and algorithmic mechanism design. All known generalizations of Border’s theorem either restrict attention to relatively simple settings or resort to approximation. This article identifies a complexity-theoretic barrier that indicates, assuming standard complexity class separations, that Border’s theorem cannot be extended significantly beyond the state of the art. We also identify a surprisingly tight connection between Myerson’s optimal auction theory, when applied to public project settings, and some fundamental results in the analysis of Boolean functions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png ACM Transactions on Economics and Computation (TEAC) Association for Computing Machinery

Public Projects, Boolean Functions, and the Borders of Border’s Theorem

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References (40)

Publisher
Association for Computing Machinery
Copyright
Copyright © 2018 ACM
ISSN
2167-8375
eISSN
2167-8383
DOI
10.1145/3274645
Publisher site
See Article on Publisher Site

Abstract

Border’s theorem gives an intuitive linear characterization of the feasible interim allocation rules of a Bayesian single-item environment, and it has several applications in economic and algorithmic mechanism design. All known generalizations of Border’s theorem either restrict attention to relatively simple settings or resort to approximation. This article identifies a complexity-theoretic barrier that indicates, assuming standard complexity class separations, that Border’s theorem cannot be extended significantly beyond the state of the art. We also identify a surprisingly tight connection between Myerson’s optimal auction theory, when applied to public project settings, and some fundamental results in the analysis of Boolean functions.

Journal

ACM Transactions on Economics and Computation (TEAC)Association for Computing Machinery

Published: Nov 16, 2018

Keywords: Auctions

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