A prior-free mechanism (PFM) is a mechanism in which the designer does not have any information on the agents' valuations, not even that they are random variables from some unknown probability distribution. A typical application is a seller who wants to sell some items to potential buyers.
A prior-free mechanism (PFM) is a mechanism in which the designer does not have any information on the agents' valuations, not even that they are random variables from some unknown probability distribution. A typical application is a seller who wants to sell some items to potential buyers.
Source: Wikipedia "Prior-free mechanism" · CC BY-SA 4.0
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