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Leonid Hurwicz, Eric S. Maskin and Roger B. Myerson: Mechanism Design Theory

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Author Info
Committee, Nobel Prize (Nobel Prize Committee)
Abstract

Scientific Background, The Nobel Prize in Economic Sciences 2007. Economic transactions take place in markets, within firms and under a host of other institutional arrangements. Some markets are free of government intervention while others are regulated. Within firms, some transactions are guided by market prices, some are negotiated, and yet others are dictated by management. Mechanism design theory provides a coherent framework for analyzing this great variety of institutions, or "allocation mechanisms", with a focus on the problems associated with incentives and private information.

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File URL: http://nobelprize.org/nobel_prizes/economics/laureates/2007/ecoadv07.pdf
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Publisher Info
Paper provided by Nobel Prize Committee in its series Nobel Prize in Economics documents with number 2007-2.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 29 pages
Date of creation: 15 Oct 2007
Date of revision:
Handle: RePEc:ris:nobelp:2007_002

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Web page: http://www.nobelprize.org/

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Related research
Keywords: Mechanism Design; Asymmetric Information;

Find related papers by JEL classification:
D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations

This paper has been announced in the following NEP Reports:

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This page was last updated on 2009-12-17.


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