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Mechanism design is a branch of economics, social choice theory, and game theory that deals with designing games (or mechanisms) to implement a given social choice function.
- Mechanism (engineering)
In engineering, a mechanism is a device that transforms...
- Mechanism (engineering)
In mechanical engineering, kinematic synthesis (also known as mechanism synthesis) determines the size and configuration of mechanisms that shape the flow of power through a mechanical system, or machine, to achieve a desired performance. The word synthesis refers to combining parts to form a whole.
15 de abr. de 2019 · In mechanism design, we do just the opposite by starting with the outcomes. We identify the outcomes we would like to have. And then we work backwards to see whether we can engineer institutions (mechanisms) that will lead to those outcomes. This is the normative or prescriptive part of economics.
- Eric Maskin
- 2019
Cite. Summary. The 2007 Nobel Prize in economics honored a subject, mechanism design, fundamental to the study of incentives and information. Its importance is difficult to convey in a sound bite because it does not arise from a to-do list or a ten-point plan. Rather, it is an analytical framework for thinking clearly and carefully about the ...
18 de oct. de 2007 · Patrick Legros. Estelle Cantillon. / 18 Oct 2007. Mechanism design theory is a major breakthrough in the modern economic analysis of institutions and markets. It revolutionalised the way economists think about optimal institutions and regulation when governments don't “know it all.”
9 de mar. de 2016 · Mechanism design is a subfield of microeconomics and game theory. It considers how to implement good system-wide solutions to problems that involve multiple self-interested agents [1]. In 2007, the Nobel Prize in economics was awarded to Leonid Hurwicz, Eric Maskin,...
