Vickrey–Clarke–Groves mechanism
ID: vickrey-clarke-groves-mechanism
The Vickrey–Clarke–Groves (VCG) mechanism is a type of auction and mechanism design theory that encourages truthful bidding from participants in a public goods setting. It is named after three economists: William Vickrey, Edward Clarke, and Theodore Groves, who contributed to the underlying principles of this mechanism.
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