An Introduction to the Theory of Mechanism Design
An Introduction to the Theory of Mechanism Design
- ISBN 13:
9780199734023
- ISBN 10:
019973402X
- Format: Hardcover
- Copyright: 06/01/2015
- Publisher: Oxford University Press
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Summary
A relatively new economic theory, mechanism design studies the instrument itself as well as 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 efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Börgers also provides an examination of the frontiers of current research in the area with an original and unified perspective that will appeal to advanced students of economics.