This paper introduces the participatory Vickrey-Clarke-Groves mechanism, which satisfies both ex-ante budget balance and interim individual rationality. We bound the efficiency loss of this mechanism by a parameter that captures the structure of ma...
This paper introduces the participatory Vickrey-Clarke-Groves mechanism, which satisfies both ex-ante budget balance and interim individual rationality. We bound the efficiency loss of this mechanism by a parameter that captures the structure of marginal contributions to the social welfare. We then apply the
theory to quite general multiple unit double auction problems to show that the
participatory VCG mechanism achieves asymptotic efficiency.