Revenue Maximization Envy-Free Pricing for Homogeneous Resources

Monaco, Gianpiero; Sankowski, Piotr; Zhang, Qiang

Revenue Maximization Envy-Free Pricing for Homogeneous Resources

Gianpiero Monaco, Piotr Sankowski, Qiang Zhang

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Proceedings of the Twenty-Fourth International Joint Conference on Artificial Intelligence. Main Track. Pages 90-95.

Abstract

Pricing-based mechanisms have been widely studied and developed for resource allocation in multi-agent systems. One of the main goals in such studies is to avoid envy between the agents, i.e., guarantee fair allocation. However, even the simplest combinatorial cases of this problem is not well understood. Here, we try to fill these gaps and design polynomial revenue maximizing pricing mechanisms to allocate homogeneous resources among buyers in envy-free manner. In particular, we consider envy-free outcomes in which all buyers' utilities are maximized. We also consider pair envy-free outcomes in which all buyers prefer their allocations to the allocations obtained by other agents. For both notions of envy-freeness, we consider item and bundle pricing schemes. Our results clearly demonstrate the limitations and advantages in terms of revenue between these two different notions of envy-freeness.

Gianpiero Monaco, Piotr Sankowski, and Qiang Zhang. 2015. Revenue Maximization Envy-Free Pricing for Homogeneous Resources. In Proceedings of the Twenty-Fourth International Joint Conference on Artificial Intelligence, IJCAI-15. IJCAI, 90–95. https://ijcai.org/proceedings/2015/20

@inproceedings{ijcai2015p20,
  title     = {Revenue Maximization Envy-Free Pricing for Homogeneous Resources},
  author    = {Monaco, Gianpiero and Sankowski, Piotr and Zhang, Qiang},
  booktitle = {Proceedings of the Twenty-Fourth International Joint Conference on
               Artificial Intelligence, {IJCAI-15}},
  publisher = {International Joint Conferences on Artificial Intelligence},
  editor    = {Qiang Yang and Michael Wooldridge},
  pages     = {90--95},
  year      = {2015},
  month     = {7},
  note      = {Main Track},
  url       = {https://ijcai.org/proceedings/2015/20},
}

TY  - CPAPER
TI  - Revenue Maximization Envy-Free Pricing for Homogeneous Resources
AU  - Monaco, Gianpiero
AU  - Sankowski, Piotr
AU  - Zhang, Qiang
T2  - Proceedings of the Twenty-Fourth International Joint Conference on Artificial Intelligence, IJCAI-15
PB  - International Joint Conferences on Artificial Intelligence
PY  - 2015
SP  - 90
EP  - 95
UR  - https://ijcai.org/proceedings/2015/20
ER  -