Maximize Liquid Welfare in Combinatorial Auctions with Monotone Valuations

Abstract

In this paper, we consider how to maximize the liquid welfare in a combinatorial auction where bidders have monotone valuations and are budget constrained. We study the setting that budgets are public information and present a universally truthful, budget feasible and computationally-efficient randomized [Formula: see text]-approximate mechanism, where [Formula: see text] is the number of items and [Formula: see text] is the number of bidders, respectively.