Nick Arnosti on b · Sep 24, 2023

Famous Open Question Resolved... since 2014?!?!

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Motivation Suppose I have a set of objects to give away. What goals should I have? Of course, the answer depends on the setting, but two natural goals are efficiency and fairness. If I don’t know people’s preferences, I also need to design a system that incentivizes people to tell me their true preferences. Skipping over the mathematical definitions of efficiency, fairness, and truthfulness (more detail on these below), I assert that there is a simple mechanism that satisfies all three goals: line people up, and have the first person choose their favorite object, the second their favorite from those that remain, and so on.

Read on /blog/rp_resolved/ ↗

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