bogus comments on Even with default points, systems remain exploitable - Less Wrong

9 Post author: Stuart_Armstrong 19 July 2013 04:24PM

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Comment author: bogus 19 July 2013 11:32:05PM *  5 points [-]

Indeed, the Myerson-Satterthwaite theorem from mechanism design implies that no mechanism for bilateral trading can be perfectly efficient.

My understanding is that there has been research into mechanisms that can reach some kind of constrained optimum, but the problem is complex enough that even these mechanisms are not considered to be feasible.

Comment author: Stuart_Armstrong 22 July 2013 05:20:59PM 0 points [-]

no mechanism for bilateral trading can be perfectly efficient.

Yep, but this illustrates how bad it can get!