2 papers
cs.GT2022
An Algorithmic Introduction to Savings Circles
Rediet Abebe, Adam Eck, Christian Ikeokwu +1
Rotating savings and credit associations (roscas) are informal financial organizations common in settings where communities have reduced access to formal financial institutions. In…
cs.GT2018
An Improved Welfare Guarantee for First Price Auctions
Darrell Hoy, Sam Taggart, Zihe Wang
This paper proves that the welfare of the first price auction in Bayes-Nash equilibrium is at least a -fraction of the welfare of the optimal mechanism assuming agents' value…