Communication in Mechanism Design
Communication in Mechanism Design
Mechanism design is the field of economics that treats institutions and procedures as variables that can be selected in order to achieve desired objectives. An important aspect of a mechanism is the communication among its participants that it requires, which complements other design features such as incentives and complexity. A calculus-based theory of communication in mechanisms is developed in this book. The value of a calculus-based approach lies in its familiarity as well as the insight into mechanisms that it provides. Results are developed concerning (i) a first order approach to the construction of mechanisms, (ii) the range of mechanisms that can be used to achieve a given objective, as well as (iii) lower bounds on the required communication.
- Mechanism design covering markets, auctions, contests is one of the hottest topics in economics. The 2007 Nobel Prize winners won for mechanism design analysis
- The text presents a general theory of communication in economic mechanisms
- Accessible calculus-based theory throughout the text
Product details
October 2008Hardback
9780521851312
216 pages
233 × 159 × 20 mm
0.49kg
Available
Table of Contents
- 1. Introduction
- 2. Classical concepts and results
- 3. Applications to mechanisms
- 4. Realizing a C∞ mapping.
