| Sarah's Tech & Research Blog
VCG is neither individually rational nor budget balanced in general, but could there exist some other incentive-compatible mechanism that is? This post from Game Theory Online (http://www.game-theory-class.org) gives an example that proves the Myerson-Satterthwaite Theorem, which states that there is no such mechanism.
In general, VCG is neither budget balanced nor individually rational. This post from Game Theory Online (http://www.game-theory-class.org) introduces some additional assumptions under which it is possible to get individual rationality and budget balance in VCG. It features Kevin Leyton-Brown (UBC).
If VCG is so wonderful, why don’t we use it for everything? This post from Game Theory Online (http://www.game-theory-class.org) describes some of the VCG’s serious drawbacks. It features Kevin Leyton-Brown (UBC).
This post from Game Theory Online (http://www.game-theory-class.org) gives an example of VCG in action. It features Yoav Shoham (Stanford).
This post from Game Theory Online (http://www.game-theory-class.org) formally defines the VCG mechanism, and proves some of its desirable properties. It features Matt Jackson (Stanford).
The Vickrey-Clarke-Groves mechanism, or VCG, is one of mechanism design’s success stories. This post from Game Theory Online (http://www.game-theory-class.org) gives a high-level introduction to the VCG mechanism, what it does, why it is important, and the kinds of settings to which it applies. It features Kevin Leyton-Brown (UBC).
Algorithmic Game Theory
Learn about the first application of signaling, job-market signaling by Michael Spence.
Learn how to refine the various PBEs in a signaling game using forward induction.
Describe how to find a PBE in a signaling game.