08-1 - Comprehension Questions for Mechanism Design 1
Please answer these questions concisely (ideally 1 sentence each).
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Give two examples of mechanism design problems that are not auction problems and that are not in the lecture notes. *
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Name four properties that we would like mechanisms to have. *
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Explain the relationship between a Groves mechanism and the VCG mechanism. *
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What's the problem of applying VCG to a simple exchange domain? *
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Explain in your own words, what agent-independent prices are. *
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