{"id":594781,"date":"2019-06-21T05:44:02","date_gmt":"2019-06-21T12:44:02","guid":{"rendered":"https:\/\/cm-edgetun.pages.dev\/en-us\/research\/?post_type=msr-research-item&#038;p=594781"},"modified":"2019-09-12T12:17:46","modified_gmt":"2019-09-12T19:17:46","slug":"truthful-aggregation-of-budget-proposals","status":"publish","type":"msr-research-item","link":"https:\/\/cm-edgetun.pages.dev\/en-us\/research\/publication\/truthful-aggregation-of-budget-proposals\/","title":{"rendered":"Truthful Aggregation of Budget Proposals"},"content":{"rendered":"<p>We consider a participatory budgeting problem in which each voter submits a proposal for how to divide a single divisible resource (such as money or time) among several possible alternatives (such as public projects or activities) and these proposals must be aggregated into a single aggregate division. Under <span id=\"MathJax-Element-1-Frame\" class=\"MathJax\"><span id=\"MathJax-Span-1\" class=\"math\"><span id=\"MathJax-Span-2\" class=\"mrow\"><span id=\"MathJax-Span-3\" class=\"msubsup\"><span id=\"MathJax-Span-4\" class=\"mi\">\u2113<\/span><span id=\"MathJax-Span-5\" class=\"mn\">1<\/span><\/span><\/span><\/span><\/span> preferences&#8212;for which a voter&#8217;s disutility is given by the <span id=\"MathJax-Element-2-Frame\" class=\"MathJax\"><span id=\"MathJax-Span-6\" class=\"math\"><span id=\"MathJax-Span-7\" class=\"mrow\"><span id=\"MathJax-Span-8\" class=\"msubsup\"><span id=\"MathJax-Span-9\" class=\"mi\">\u2113<\/span><span id=\"MathJax-Span-10\" class=\"mn\">1<\/span><\/span><\/span><\/span><\/span> distance between the aggregate division and the division he or she most prefers&#8212;the social welfare-maximizing mechanism, which minimizes the average <span id=\"MathJax-Element-3-Frame\" class=\"MathJax\"><span id=\"MathJax-Span-11\" class=\"math\"><span id=\"MathJax-Span-12\" class=\"mrow\"><span id=\"MathJax-Span-13\" class=\"msubsup\"><span id=\"MathJax-Span-14\" class=\"mi\">\u2113<\/span><span id=\"MathJax-Span-15\" class=\"mn\">1<\/span><\/span><\/span><\/span><\/span> distance between the outcome and each voter&#8217;s proposal, is incentive compatible (Goel et al. 2016). However, it fails to satisfy the natural fairness notion of proportionality, placing too much weight on majority preferences. Leveraging a connection between market prices and the generalized median rules of Moulin (1980), we introduce the independent markets mechanism, which is both incentive compatible and proportional. We unify the social welfare-maximizing mechanism and the independent markets mechanism by defining a broad class of moving phantom mechanisms that includes both. We show that every moving phantom mechanism is incentive compatible. Finally, we characterize the social welfare-maximizing mechanism as the unique Pareto-optimal mechanism in this class, suggesting an inherent tradeoff between Pareto optimality and proportionality.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We consider a participatory budgeting problem in which each voter submits a proposal for how to divide a single divisible resource (such as money or time) among several possible alternatives (such as public projects or activities) and these proposals must be aggregated into a single aggregate division. Under \u21131 preferences&#8212;for which a voter&#8217;s disutility is [&hellip;]<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"msr-url-field":"","msr-podcast-episode":"","msrModifiedDate":"","msrModifiedDateEnabled":false,"ep_exclude_from_search":false,"_classifai_error":"","msr-author-ordering":null,"msr_publishername":"","msr_publisher_other":"","msr_booktitle":"","msr_chapter":"","msr_edition":"","msr_editors":"","msr_how_published":"","msr_isbn":"","msr_issue":"","msr_journal":"","msr_number":"","msr_organization":"","msr_pages_string":"","msr_page_range_start":"","msr_page_range_end":"","msr_series":"","msr_volume":"","msr_copyright":"","msr_conference_name":"Twentieth ACM Conference on Economics and 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