Mechanism design

Single-parameter utility

In mechanism design, an agent is said to have single-parameter utility if his valuation of the possible outcomes can be represented by a single number. For example, in an auction for a single item, the utilities of all agents are single-parametric, since they can be represented by their monetary evaluation of the item. In contrast, in a combinatorial auction for two or more related items, the utilities are usually not single-parametric, since they are usually represented by their evaluations to all possible bundles of items. (Wikipedia).

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Related pages

Combinatorial auction | Expected value | Mechanism design | Monotonicity (mechanism design) | Subset