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Polynomial-Time Approximation Schemes for Maximizing Gross Substitutes Utility under Budget Constraints

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Algorithms – ESA 2011 (ESA 2011)

Part of the book series: Lecture Notes in Computer Science ((LNTCS,volume 6942))

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Abstract

We consider the maximization of a gross substitutes utility function under budget constraints. This problem naturally arises in applications such as exchange economies in mathematical economics and combinatorial auctions in (algorithmic) game theory. We show that this problem admits a polynomial-time approximation scheme (PTAS). More generally, we present a PTAS for maximizing a discrete concave function called an M\(^\natural\)-concave function under budget constraints. Our PTAS is based on rounding an optimal solution of a continuous relaxation problem, which is shown to be solvable in polynomial time by the ellipsoid method. We also consider the maximization of the sum of two M\(^\natural\)-concave functions under a single budget constraint. This problem is a generalization of the budgeted max-weight matroid intersection problem to the one with a nonlinear objective function. We show that this problem also admits a PTAS.

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Authors and Affiliations

  1. GSIS, Tohoku University, Sendai, 980-8579, Japan

    Akiyoshi Shioura

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  1. Akiyoshi Shioura
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Editors and Affiliations

  1. Dipartimento di Informatica e Sistemistica, University of Rome " La Sapienza", via Ariosto 25, 00185, Roma, Italy

    Camil Demetrescu

  2. School of Computer Science, Reykjavik University, Menntavegur 1, 101, Reykjavik, Iceland

    Magnús M. Halldórsson

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Shioura, A. (2011). Polynomial-Time Approximation Schemes for Maximizing Gross Substitutes Utility under Budget Constraints. In: Demetrescu, C., Halldórsson, M.M. (eds) Algorithms – ESA 2011. ESA 2011. Lecture Notes in Computer Science, vol 6942. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-23719-5_1

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  • DOI: https://doi.org/10.1007/978-3-642-23719-5_1

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-23718-8

  • Online ISBN: 978-3-642-23719-5

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