Gradient-based local formulations of the Vickrey–Clarke–Groves mechanism for truthful minimization of social convex objectives

Abstract

We propose a gradient-based iterative method yielding a truthfulness preserving implementation of the Vickrey–Clarke–Groves mechanism for minimization of social convex objectives. The approach is guaranteed to return, in the limit, the same efficient outcomes of the VCG method, while improving its privacy limitations and reducing its communication requirements. Its performance is investigated through an illustrative example of vehicles coordination.