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.
| ISBN: | 9781107407398 |
| Publication date: | 13th September 2012 |
| Author: | Steven R. (University of Illinois, Urbana-Champaign) Williams |
| Publisher: | Cambridge University Press |
| Format: | Paperback |
| Pagination: | 216 pages |
| Genres: |
Econometrics and economic statistics Computer science Calculus and mathematical analysis Research methods: general |