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We study the bilateral trade problem: one seller, one buyer and a single, indivisible item for sale. It is well known that there is no fully-efficient and incentive compatible mechanism for this problem that maintains a balanced budget. We design simple and robust mechanisms that obtain approximate efficiency with these properties. We show that even minimal use of statistical data can yield good approximation results. Finally, we demonstrate how a mechanism for this simple bilateral-trade problem can be used as a black-box for constructing mechanisms in more general environments.
We make three different types of contributions to cost-sharing: First, we identify several new classes of combinatorial cost functions that admit incentive-compatible mechanisms achieving both a constant-factor approximation of budget-balance and a p
We address the following dynamic version of the school choice question: a city, named City, admits students in two temporally-separated rounds, denoted $mathcal{R}_1$ and $mathcal{R}_2$. In round $mathcal{R}_1$, the capacity of each school is fixed a
We characterise the set of dominant strategy incentive compatible (DSIC), strongly budget balanced (SBB), and ex-post individually rational (IR) mechanisms for the multi-unit bilateral trade setting. In such a setting there is a single buyer and a si
We define a model of interactive communication where two agents with private types can exchange information before a game is played. The model contains Bayesian persuasion as a special case of a one-round communication protocol. We define message com
We study the design of revenue-maximizing bilateral trade mechanisms in the correlated private value environment. We assume the designer only knows the expectations of the agents values, but knows neither the marginal distribution nor the correlation