This paper is a survey of mechanism design, written for a book of excerpts from the New Pal grave Dictionary of Economics. Topics discussed include the revelation principle, incentive constraints, ex post efficiency, mechanism-theoretic limits of Coase's theorem, and mechanism selection by individuals with private information.
This paper is a survey of mechanism design, written for a book of excerpts from the New Pal grave Dictionary of Economics. Topics discussed include the revelation principle, incentive constraints, ex post efficiency, mechanism-theoretic limits of Coase's theorem, and mechanism selection by individuals with private information.
This paper is a survey of mechanism design, written for a book of excerpts from the New Pal grave Dictionary of Economics. Topics discussed include the revelation principle, incentive constraints, ex post efficiency, mechanism-theoretic limits of Coase's theorem, and mechanism selection by individuals with private information.