Framework
Vickrey-Clarke-Groves (VCG) Auction
A truthful auction mechanism in which bidders pay a price based on the externality their winning bid imposes on other bidders, encouraging participants to bid their true value.
Vickrey-Clarke-Groves (VCG) Auction
1 visible of 1 connections
Related Concepts11
Related Practices6
Ask about this framework
Transcript mentions
… mechanism the mathematical mechanism which is essentially like a modified uh VCG I think Vicky Clark's Grove uh kind of like auction mechanism
Framework
Vickrey-Clarke-Groves (VCG) Auction
A truthful auction mechanism in which bidders pay a price based on the externality their winning bid imposes on other bidders, encouraging participants to bid their true value.
Related Concepts11
Related Practices6
Ask about this framework
Transcript mentions
… mechanism the mathematical mechanism which is essentially like a modified uh VCG I think Vicky Clark's Grove uh kind of like auction mechanism