Thirteen Reasons Why the Vickrey-Clarke-Groves Process Is Not Practical

  • Authors:
  • Michael H. Rothkopf

  • Affiliations:
  • MSIS Department and RUTCOR, Rutgers University, 640 Bartholomew Road, Piscataway, New Jersey 08854-8003

  • Venue:
  • Operations Research
  • Year:
  • 2007

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Abstract

In theory, the mathematically elegant Vickrey-Clarke-Groves process offers perfect efficiency with dominant truth-revealing strategies. However, it has many serious practical problems. This paper describes these problems and argues that research that aims to maintain the dominant truth-revealing strategies while compromising on the other practical issues is of limited practical value.