A Geometric Analysis of Gains from Trade

Name: A Geometric Analysis of Gains from Trade
Author: Jason Hartline, Kangning Wang

Jason Hartline, Kangning Wang

Paper2025-08-08English

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cryptocurrency tradingarxiv

Description

We provide a geometric proof that the random proposer mechanism is a $4$-approximation to the first-best gains from trade in bilateral exchange. We then refine this geometric analysis to recover the state-of-the-art approximation ratio of $3.15$.

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