Mechanism

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Mechanism

Title text: People who say microeconomics isn't useful in real life are simply not being creative enough.

Votey

Explanation

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Transcript

This transcript was generated by a bot: The text was scraped using AWS's Textract, which may have errors. Complete transcripts should also describe what happens in each panel.

[Describe panel here]

I see we disagree on dinner options. No problem. First, I require each family member to submit a bid expressing his or her valuation of his or her preferred dinner option. We will then determine the difference-

No! No! You pick! Forget it! God!

Caption: Introducing the Vickrey-Clarke-Groves-Weinersmith mechanism, in which you use a Vickrey-Clarke-Groves mechanism until everyone gives up and just does what you want.

Votey Transcript

This transcript was generated by a bot: The text was scraped using AWS's Textract, which may have errors. Complete transcripts should also describe what happens in each panel.

[Describe panel here]

See, you revealed your preference immediately!

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