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Total pages original book: 264
Includes a PDF summary of 25 pages
Duration of the summary (audio): 18M23S (5 MB)
Description or summary of the audiobook: What is the best way of auctioning 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 Boergers addresses these questions and more through an exploration of the economic theory of mechanism design, also known as reverse game theory. Game theory takes the rules of the game as a given and makes predictionsabout the behavior of strategic players, but the theory of mechanism design goes a step further to select the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself rather than 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 andSatterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Boergers 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.
Other categories, genre or collection: Economic Theory & Philosophy, Econometrics, Game Theory
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