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: | Rothkopf Michael H. |
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.