Designing Economic Mechanisms
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Author | : Leonid Hurwicz |
Publisher | : Cambridge University Press |
Total Pages | : 321 |
Release | : 2006-05-22 |
Genre | : Business & Economics |
ISBN | : 113945434X |
Download Designing Economic Mechanisms Book in PDF, Epub and Kindle
A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such institutions; markets are the most familiar ones. Lawmakers, administrators and officers of private companies create institutions in order to achieve desired goals. They seek to do so in ways that economize on the resources needed to operate the institutions, and that provide incentives that induce the required behaviors. 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. Most of the book deals with these procedures of design. When there are finitely many environments to be dealt with, and there is a Nash-implementing mechanism, our algorithms can be used to make that mechanism into an informationally efficient one. Informationally efficient dominant strategy implementation is also studied.
Author | : Rakesh V. Vohra |
Publisher | : Cambridge University Press |
Total Pages | : 185 |
Release | : 2011-05-09 |
Genre | : Business & Economics |
ISBN | : 1139499173 |
Download Mechanism Design Book in PDF, Epub and Kindle
Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design.
Author | : Guillaume Haeringer |
Publisher | : MIT Press |
Total Pages | : 393 |
Release | : 2018-03-02 |
Genre | : Business & Economics |
ISBN | : 0262345099 |
Download Market Design Book in PDF, Epub and Kindle
A broad overview of market mechanisms, with an emphasis on the interplay between theory and real-life applications; examples range from eBay auctions to school choice. This book offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows the text to analyze a broad set of situations—including such unconventional markets as college admissions and organ donation—and forces readers to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems. The book focuses on the interplay between theory and applications. To keep the text as accessible as possible, special effort has been made to minimize formal description of the models while emphasizing the intuitive, with detailed explanations and resolution of examples. Appendixes offer general reviews of elements of game theory and mechanism design that are related to the themes explored in the book, presenting the basic concepts with as many explanations and illustrations as possible. The book covers topics including the basics of simple auctions; eBay auctions; Vickrey–Clarke–Groves auctions; keyword auctions, with examples from Google and Facebook; spectrum auctions; financial markets, with discussions of treasury auctions and IPOs; trading on the stock market; the basic matching model; medical match; assignment problems; probabilistic assignments; school choice; course allocation, with examples from Harvard and Wharton; and kidney exchange.
Author | : Tilman Börgers |
Publisher | : Oxford University Press, USA |
Total Pages | : 263 |
Release | : 2015 |
Genre | : Business & Economics |
ISBN | : 019973402X |
Download An Introduction to the Theory of Mechanism Design Book in PDF, Epub and Kindle
This book is meant for advanced undergraduate and graduate students of economics who have a good understanding of game theory.
Author | : Quiang Cheng |
Publisher | : |
Total Pages | : |
Release | : 1998 |
Genre | : |
ISBN | : |
Download Essays on Designing Economic Mechanisms Book in PDF, Epub and Kindle
Author | : Lisa Ann Mandle |
Publisher | : |
Total Pages | : 334 |
Release | : 2019-09-12 |
Genre | : Business & Economics |
ISBN | : 1642830038 |
Download Green Growth That Works Book in PDF, Epub and Kindle
Rapid economic development has been a boon to human well-being, but comes at a significant cost to the fertile soils, forests, coastal marshes, and farmland that support all life on earth. If ecosystems collapse, so eventually will human civilization. One solution is inclusive green growth--the efficient use of natural resources. Its genius lies in working with nature rather than against it. Green Growth That Works is the first practical guide to bring together pragmatic finance and policy tools that can make investment in natural capital both attractive and commonplace. Pioneered by leading scholars from the Natural Capital Project, this valuable compendium of proven techniques can guide agencies and organizations eager to make green growth work anywhere in the world.
Author | : Stuart T. Smith |
Publisher | : CRC Press |
Total Pages | : 365 |
Release | : 2017-07-12 |
Genre | : Technology & Engineering |
ISBN | : 1351989049 |
Download Foundations of Ultra-Precision Mechanism Design Book in PDF, Epub and Kindle
The realm of ultra precision mechanisms, for example in controlling motion to small fractions of a micrometer, is encroaching into many fields of technology. This book aims to provide a bridge for those moving from either an engineering or physics background towards the challenges offered by ultraprecision mechanisms. Using case study examples, this book provides a guide to basic techniques and gives technical, analytical and practical information.
Author | : Mauricio Siares Bugarin |
Publisher | : |
Total Pages | : 154 |
Release | : 1997 |
Genre | : |
ISBN | : |
Download Topics in the Design of Political and Economic Mechanisms Book in PDF, Epub and Kindle
Author | : Hans W. Gottinger |
Publisher | : Bentham Science Publishers |
Total Pages | : 222 |
Release | : 2017-08-28 |
Genre | : Business & Economics |
ISBN | : 1681085461 |
Download Internet Economics: Models, Mechanisms and Management Book in PDF, Epub and Kindle
The internet represents a rapidly evolving set of technologies which is central to the development of a modern economy. Internet Economics: Models, Mechanisms and Management integrates knowledge about internet service design with economic modelling principles (pricing, cost and service models). Chapters highlight specific applications of the internet such as service provisioning, cloud computing, commerce, business security, network externalities, social media and more recent developments such as the Internet of Things (IoT), the industrial internet, data analytics and the use of big data to bring value to commercial ventures. Therefore, readers will have a conceptual and practical framework for understanding the economics of internet infrastructure and service delivery.
Author | : John Heskett |
Publisher | : Bloomsbury Publishing |
Total Pages | : 248 |
Release | : 2017-02-09 |
Genre | : Design |
ISBN | : 1474274277 |
Download Design and the Creation of Value Book in PDF, Epub and Kindle
John Heskett was a pioneering British design historian, with a particular interest in design and economics. Design and the Creation of Value' publishes for the first time his groundbreaking seminar on design and economic value. In remarkably clear and accessible prose Heskett explores the how the key traditions of economic thought conceive of how value is created. Critically teasing out the role of design in this process, Heskett shows how design's role in innovating and creating value creating value for organisations and products can be given a firm grounding in economic theory. Featuring examples of businesses which have successfully responded to the value of design in their practice, as well as others who have failed because of their inability to understand value-creation, Heskett looks in detail at the relationship between producers, markets, products and consumers, using these instances to offer a both a strong critique of the limitations conventional economic thought and new model of the economic importance of design thinking in value creation.