An Introduction to the Theory of Mechanism Design

Tilman Borgers

ISBN 10: 019973402X / ISBN 13: 9780199734023

Published by Oxford University Press Jun 2015, 2015

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Neuware - An Introduction to the Theory of Mechanism Design is a rigorous but accessible exploration mechanism design, also known as reverse game theory. Seller Inventory # 9780199734023

Bibliographic Details

Title: An Introduction to the Theory of Mechanism ...

Publisher: Oxford University Press Jun 2015

Publication Date: 2015

Binding: Buch

Condition: Neu

About this title

Synopsis:

What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? In An Introduction to the Theory of Mechanism Design, Tilman Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game.

A relatively new economic theory, mechanism design studies the instrument itself as well as the results of the instrument. An Introduction to the Theory of Mechanism Design provides rigorous but accessible explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Börgers also provides an examination of the frontiers of current research in the area with an original and unified perspective that will appeal to advanced students of economics.

About the Author:

Tilman Börgers is Samuel Zell Professor of the Economics of Risk at the University of Michigan. Before coming to Michigan in 2005, he was Professor of Economics at University College London. He holds a PhD in economics from the London School of Economics.

Daniel Krähmer is Full Professor of Economics in the Department of Economics at Universität Bonn, Germany.

Roland Strausz is Full Professor and Chair of the Institute for Economic Theory at Humboldt-Universität Berlin, Germany.