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Thirteen Reasons Why the Vickrey-Clarke-Groves Process Is Not Practical

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  • Michael H. Rothkopf

    (MSIS Department and RUTCOR, Rutgers University, 640 Bartholomew Road, Piscataway, New Jersey 08854-8003)

Abstract

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.

Suggested Citation

  • Michael H. Rothkopf, 2007. "Thirteen Reasons Why the Vickrey-Clarke-Groves Process Is Not Practical," Operations Research, INFORMS, vol. 55(2), pages 191-197, April.
    • Handle: RePEc:inm:oropre:v:55:y:2007:i:2:p:191-197
    DOI: 10.1287/opre.1070.0384
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    References listed on IDEAS

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