Algorithms as Mechanisms: The Price of Anarchy of Relax and Round: Oblivious Rounding Turns a -Smooth Exact Relaxation into a -Smooth MechanismResearch Paper
Many welfare-maximization problems in mechanism design are NP-hard: combinatorial auctions, packing integer programs, unsplittable flow, maximum traveling salesman. The standard algorithmic answer is relax-and-round: solve a fractional relaxation exactly, then round the fractional solution to a feasible one. Turning such an algorithm into a mechanism is the…