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This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism. The systematic design procedures are algorithms for designing informationally efficient mechanisms.
- Leonid Hurwicz, Stanley Reiter
- 2006
15 de nov. de 2022 · This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism, i.e., informationally efficient mechanisms.
- Paperback
Our aim in this book is to present systematic methods for designing decentralized economic mechanisms whose performance attains specified goals. We begin with an informal discussion of the general problem, and of our approach to it.
Designing Economic Mechanisms. A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such insti-tutions; markets are the most familiar ones. Lawmakers, administrators, and officersofprivatecompaniescreateinstitutionsinordertoachievedesiredgoals.
Designing Economic Mechanisms is a 2006 book by economists Leonid Hurwicz and Stanley Reiter. Hurwicz received the 2007 Nobel Memorial Prize in Economic Sciences with Eric Maskin and Roger Myerson for their work on mechanism design.
- Leonid Hurwicz, Stanley Reiter
- 356
- 2006
- May 22, 2006
ARTICLE. Introduction to mechanism design and implementation†. Eric Maskin. Director, Maskin Research Center of China’s Economic Development, Zhejiang University, Hangzhou, PR China. ABSTRACT. This article provides a brief introduction to mechanism design and implementation theory. First, it provides a brief definition of mechanism design.
This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism, i.e., informationally efficient mechanisms.
