the Vickrey auction mechanism itself is incentive compatible - each agent maximizes their utility by bidding their true value. the article wasn't explicit on th

the Vickrey auction mechanism itself is incentive compatible - each agent maximizes their utility by bidding their true value. the article wasn't explicit on this front* but it's true! * "All buyers will likely all pay less than they were willing to pay, which makes ‘em feel like they got a good deal." -- buyers maximize utility by bidding true value, if they bid true value, they will _always_ pay no more than their true value, so the expected value is positive. there's no "likely" to it!