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Technologies That Replace a "Central Planner"

Author

Listed:
  • Robert M. Townsend
  • Nicolas X. Zhang

Abstract

Contracting possibilities are endogenous to the technologies on which the negotiation and the trading environments are built. Here we review how different technologies allow different implementations of the "central planner" and gradually abstract this centralized role away into the technological environment. We emphasize that the "central planner" construct should no longer remain an abstract invocation in the literature and that it already is concretely deployed to implement optimized solutions to bilateral and multiagent mechanism design problems. We hope to provide methods for economic, business, and policy designers to leverage the right technological tools for the different problems they are facing.

Suggested Citation

  • Robert M. Townsend & Nicolas X. Zhang, 2023. "Technologies That Replace a "Central Planner"," AEA Papers and Proceedings, American Economic Association, vol. 113, pages 257-262, May.
    • Handle: RePEc:aea:apandp:v:113:y:2023:p:257-62
    DOI: 10.1257/pandp.20231031
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    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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