An Introduction to the Theory of Mechanism Design

Business & Finance, Economics, Econometrics, Theory of Economics, Nonfiction, Science & Nature, Mathematics
Cover of the book An Introduction to the Theory of Mechanism Design by Tilman Borgers, Daniel Krahmer, Roland Strausz, Oxford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Tilman Borgers, Daniel Krahmer, Roland Strausz ISBN: 9780190244682
Publisher: Oxford University Press Publication: May 1, 2015
Imprint: Oxford University Press Language: English
Author: Tilman Borgers, Daniel Krahmer, Roland Strausz
ISBN: 9780190244682
Publisher: Oxford University Press
Publication: May 1, 2015
Imprint: Oxford University Press
Language: English

What is the best way to auction 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 Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. 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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

What is the best way to auction 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 Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. 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.

More books from Oxford University Press

Cover of the book This Mortal Coil by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Hormone Use in Menopause and Male Andropause by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book The World We Want by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Little Lord Fauntleroy - With Audio Level 1 Oxford Bookworms Library by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Computational Propaganda by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Faith, Politics, and Power by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Cognitive-Behavioral Stress Management for Prostate Cancer Recovery Facilitator Guide by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book The Case of the Sexy Jewess by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Mind-Altering Drugs by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Evidence-based Social Work Practice: Issues, Controversies, and Debates: Oxford Bibliographies Online Research Guide by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Lincoln's Last Speech by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book The Ethics of Sport by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book The Word As Scalpel by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Islamic Biomedical Ethics by Tilman Borgers, Daniel Krahmer, Roland Strausz
Cover of the book Understanding TIAA-CREF by Tilman Borgers, Daniel Krahmer, Roland Strausz
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy