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Mechanism Design

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  • Vohra,Rakesh V.

Abstract

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.

Suggested Citation

  • Vohra,Rakesh V., 2011. "Mechanism Design," Cambridge Books, Cambridge University Press, number 9780521179461, December.
  • Handle: RePEc:cup:cbooks:9780521179461
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    Citations

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    Cited by:

    1. Katherine Cuff & Sunghoon Hong & Jesse Schwartz & Quan Wen & John Weymark, 2012. "Dominant strategy implementation with a convex product space of valuations," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 39(2), pages 567-597, July.
    2. Carbajal, Juan Carlos & McLennan, Andrew & Tourky, Rabee, 2013. "Truthful implementation and preference aggregation in restricted domains," Journal of Economic Theory, Elsevier, vol. 148(3), pages 1074-1101.
    3. Georg Nöldeke & Larry Samuelson, 2018. "The Implementation Duality," Econometrica, Econometric Society, vol. 86(4), pages 1283-1324, July.
    4. Levent Ulku, 2012. "Nonmonotone Mechanism Design," Working Papers 1202, Centro de Investigacion Economica, ITAM.
    5. Sher, Itai & Vohra, Rakesh, 2015. "Price discrimination through communication," Theoretical Economics, Econometric Society, vol. 10(2), May.
    6. Prokic-Breuer, T. & Dronkers, J., 2012. "The high performance of Dutch and Flemish 15-year-old native pupils: explaining country differences in math scores between highly stratified educational systems," Research Memorandum 038, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    7. Mishra, Debasis & Sen, Arunava, 2012. "Robertsʼ Theorem with neutrality: A social welfare ordering approach," Games and Economic Behavior, Elsevier, vol. 75(1), pages 283-298.
    8. Thierry Marchant & Debasis Mishra, 2015. "Mechanism design with two alternatives in quasi-linear environments," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(2), pages 433-455, February.
    9. Pycia, Marek & Ünver, M. Utku, 2015. "Decomposing random mechanisms," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 21-33.
    10. Csapó, Gergely & Müller, Rudolf, 2013. "Optimal mechanism design for the private supply of a public good," Games and Economic Behavior, Elsevier, vol. 80(C), pages 229-242.
    11. Jacob K. Goeree & Alexey Kushnir, 2011. "On the equivalence of Bayesian and dominant strategy implementation in a general class of social choice problems," ECON - Working Papers 021, Department of Economics - University of Zurich.
    12. Sher, Itai, 2014. "Persuasion and dynamic communication," Theoretical Economics, Econometric Society, vol. 9(1), January.
    13. Mishra, Debasis & Pramanik, Anup & Roy, Souvik, 2014. "Multidimensional mechanism design in single peaked type spaces," Journal of Economic Theory, Elsevier, vol. 153(C), pages 103-116.
    14. Mishra, Debasis & Roy, Souvik, 2013. "Implementation in multidimensional dichotomous domains," Theoretical Economics, Econometric Society, vol. 8(2), May.
    15. Briest, Patrick & Chawla, Shuchi & Kleinberg, Robert & Weinberg, S. Matthew, 2015. "Pricing lotteries," Journal of Economic Theory, Elsevier, vol. 156(C), pages 144-174.
    16. Peter Bardsley, 2012. "Duality in Contracting," Department of Economics - Working Papers Series 1141, The University of Melbourne.
    17. Carbajal, Juan Carlos & Ely, Jeffrey C., 2013. "Mechanism design without revenue equivalence," Journal of Economic Theory, Elsevier, vol. 148(1), pages 104-133.
    18. Debasis Mishra & Abdul Quadir, 2012. "Deterministic single object auctions with private values," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 12-06, Indian Statistical Institute, New Delhi, India.
    19. Debasis Mishra & Anup Pramanik & Souvik Roy, 2013. "Implementation in multidimensional domains with ordinal restrictions," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 13-07, Indian Statistical Institute, New Delhi, India.
    20. Rahul Deb & Debasis Mishra, 2013. "Implementation with securities," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 13-05, Indian Statistical Institute, New Delhi, India.
    21. Uuganbaatar Ninjbat, 2012. "Symmetry vs. complexity in proving the Muller-Satterthwaite theorem," Economics Bulletin, AccessEcon, vol. 32(2), pages 1434-1441.
    22. Kohei Shiozawa, 2015. "Revealed Preference Test and Shortest Path Problem; Graph Theoretic Structure of the Rationalizability Test," Discussion Papers in Economics and Business 15-17, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).

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