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In the first two parts of this short series, we learned how mechanism design can be used in theory to engineer systems that achieve desirable properties by anticipating how rational… Click to show full abstract
In the first two parts of this short series, we learned how mechanism design can be used in theory to engineer systems that achieve desirable properties by anticipating how rational agents will act, and then designing the rules accordingly. In particular, we focused on the Vickrey–Clarke–Groves (VCG) mechanism that results in a welfare maximizing outcome by incentivizing agents to tell the truth about how much they prefer each outcome. Now, let's explore how the VCG mechanisms may be used to solve real-world problems.
Keywords:
mechanism design;
real world;
vcg mechanism;
mechanism
Journal Title: IEEE Intelligent Systems
Year Published: 2022
Link to full text (if available)
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Journal Title: IEEE Intelligent Systems
Year Published: 2022
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!