Lecture 3.1: VCG mechanism, part 1 (Mechanism Design)
Channel: economification
Date: 28/09/2020

Lecture 3.1: VCG mechanism, part 1
Mechanism Design course (Masters in Economics, UCPH, Fall 2020)

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Full course playlist: https://www.youtube.com/playlist?list=PL4pUs4P_j1WasI0kO99OgNNd_hJwpct4D
Course files (lecture notes, problem sets) available at: https://starkov.site/teaching.html

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Stock footage from Videezy.com
Thumbnail uses photo by ThisIsEngineering from Pexels.com

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0:00 General setting (refresher)
2:00 Quasilinear setting
8:03 Problem: implementing the efficient allocation rule
16:10  Aligning players' problems with the designer's problem
20:35 Groves' transfers: definition
23:20 Groves' transfers: why they work
29:50 Example: public project problem (setup)