Vickrey–Clarke–Groves auction

ID: vickrey-clarke-groves-auction

The Vickrey–Clarke–Groves (VCG) auction is a mechanism in the field of auction theory and microeconomic design, which is used to achieve efficient allocation of resources while ensuring truthful bidding by participants. It is a generalization of the Vickrey auction and is used in settings where there are multiple items and more complex preferences.

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