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Mechanism design [electronic resource] : a linear programming approach / Rakesh V. Vohra.

By: Contributor(s): Material type: TextTextSeries: Econometric Society monographs ; no. 47.Publication details: Cambridge ; New York : Cambridge University Press, 2011.Description: x, 172 p. : illSubject(s): Genre/Form: DDC classification:
  • 658.4/033 22
LOC classification:
  • HD30.23 .V637 2011
Online resources:
Contents:
Machine generated contents note: 1. Introduction; 2. Arrow's theorem and its consequences; 3. Network flow problem; 4. Incentive compatibility; 5. Efficiency; 6. Revenue maximization; 7. Rationalizability.
Summary: "Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design"-- Provided by publisher.
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Item type Current library Call number Status Date due Barcode Item holds
Ebrary Online Books Ebrary Online Books Colombo Available CBEBK7000149
Ebrary Online Books Ebrary Online Books Jaffna Available JFEBK7000149
Ebrary Online Books Ebrary Online Books Kandy Available KDEBK7000149
Total holds: 0

Includes bibliographical references and index.

Machine generated contents note: 1. Introduction; 2. Arrow's theorem and its consequences; 3. Network flow problem; 4. Incentive compatibility; 5. Efficiency; 6. Revenue maximization; 7. Rationalizability.

"Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design"-- Provided by publisher.

Electronic reproduction. Ann Arbor, MI : ProQuest, 2015. Available via World Wide Web. Access may be limited to ProQuest affiliated libraries.

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