The VCG Mechanism (EC2261@UWO)
Channel: Bruno Salcedo
Date: 30/03/2020

The Vickrey-Clarke-Groves (VCG) mechanism is an efficient and incentive-compatible mechanism that works well in many different settings. The central idea is to compensate or charge each individual according to their contribution to the rest of society. Doing so aligns individual and social incentives so that individuals are willing to reveal their private information truthfully. 

These videos were prepared with very short notice due to the 2020 COVID-19 pandemic. As a result, there are some typos and minor mistakes. 

Virtual Lectures for EC2261 at Western University. 

Find the corresponding lecture notes at http://brunosalcedo.com/2261.html