make the most of Lovereading twitter rebus 30th anniversary
Search our site
The Course of History Ten Meals That Changed the World by Struan Stevenson, Tony Singh Read the opening extract of the brand new Struan Stevenson, Tony Singh book before its publication on 24/10/2017

Communication in Mechanism Design A Differential Approach by Steven R. Williams
  

Communication in Mechanism Design A Differential Approach

RRP £20.99

Synopsis

Communication in Mechanism Design A Differential Approach by Steven R. Williams

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.

Reviews

Communication in Mechanism Design by Steve Williams is a contribution of major importance. This applies both to the role in advancing the topic of mechanism design for economic theorists as well as to the mathematical exposition which is accessible without compromising on content. The reformulation of the Frobenius Theorem, in a form suitable for applications in mechanism design, is Williams
own and provides a crucial step forward. In his preface, Steve Williams says This text complements Hurwicz and Reiter

. Steve is much too modest in his comment. In fact, his version of the Frobenius Theorem is a natural and brilliant solution to a difficult problem. - Leonid Hurwicz, Nobel Laureate, University of Minnesota In his very interesting book, Steve Williams provides an important and deep fundamental analysis of the structure and role of information in mechanisms. This is a must read for anyone interested in the foundations of mechanism design. - John Ledyard, California Institute of Technology This book explores in detail the use of calculus on manifolds to design decentralized mechanisms whose performance achieves specified economic objectives. The writing makes the uses of calculus on manifolds accessible to a reader familiar with standard multi-variable calculus. The book makes a fine a companion volume to Hurwicz and Reiter's Designing Economic Mechanisms. It should appeal to mathematicians as well as economists. -Stanley Reiter, Northwestern University This book is a valuable addition to economics and the mechanism design literature. Williams has nicely resurrected, clarified, illustrated, and described an important part of this area that has not been as fully exploited as it could and should. Donald Saari, University of California, Irvine


About the Author

Loading other formats...

Book Info

Publication date

9th May 2012

Author

Steven R. Williams

More books by Steven R. Williams
Author 'Like for Like'
    recommendations

Publisher

Cambridge University Press

Format

Paperback
216 pages

Categories

Econometrics
Computer science
Calculus & mathematical analysis
Research methods: general

ISBN

9781107407398

Books of the month/debuts of the month, kids/adults, fiction/non-fiction, free prize draws and free extracts, what's not to love?

Emma Smith

Lovereading always comes up with great suggestions and has introduced me to enjoyable books and new authors to discover.

Gaynor Passmore

I recommend Lovereading because you get honest reviews on a whole range of genres-there's something for everyone. It's the only site I need.

Sian Spinney

I love the newsletter with reviews of all the new books coming out. Can't wait to open it when it arrives in my inbox.

Rachel Aygin

Why I love @lovereadinguk? It's in the name - as dedicated lovers of reading, they are perfect matchmakers for helping me find my next read!

Catherine Jenkins

If you LOVE reading then you will love LOVEREADING! It's a 'novel' idea. Seriously though I could not recommend them enough.

Rebecca Whymark

The selections are so varied and the reader reviews are so helpful. A fantastic website for those who love books.

Ann Quintilla

The best new books on the market, reviewed honestly, to give your readers the best choices.

Julie Cook

Lovereading4kids

Lovereading4schools