An Introduction to the Theory of Mechanism Design (Innbundet)

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Forfatter: , og
Innbinding: Innbundet
Utgivelsesår: 2015
Antall sider: 264
Forlag: Oxford University Press Inc
Språk: Engelsk
ISBN/EAN: 9780199734023
Kategori: Matematikk
Omtale: An Introduction to the Theory of Mechanism Design
What is the best way of auctioning an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? In An Introduction to the Theory of Mechanism Design, Tilman Borgers addresses these questions and more through an exploration of the economic theory of mechanism design, also known as reverse game theory. Game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, but the theory of mechanism design goes a step further to select the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself rather than the results of the instrument. An Introduction to the Theory of Mechanism Design provides rigorous but accessible explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post

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