Thirteen reasons why the Vickrey–Clarke–Groves process is not practical

Thirteen reasons why the Vickrey–Clarke–Groves process is not practical

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Article ID: iaor20081042
Country: United States
Volume: 55
Issue: 2
Start Page Number: 191
End Page Number: 197
Publication Date: Mar 2007
Journal: Operations Research
Authors:
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.

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