Though the VCG auction assumes a central place in the mechanism design literature, there are a number of reasons for favoring Iterative Combinatorial Auctions (ICAs). Several promising ICA formats were developed based on primal-dual and subgradient algorithms. Prices are interpreted as a...

The allocation of students to courses is a wide-spread and repeated task in higher education, often accomplished by a simple first-come first-served (FCFS) procedure. FCFS is neither stable nor strategy-proof, however. The Nobel Prize in Economic Sciences was awarded to Al Roth and Lloyd Shapley...