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Communication in Mechanism Design by Steven R. Williams

Communication in Mechanism Design

by Steven R. Williams
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Book cover type: Hardcover
  • ISBN13: 9780521851312
  • Binding: Hardcover
  • Subject: N/A
  • Publisher: Cambridge University Press
  • Publisher Imprint: Cambridge University Press
  • Publication Date:
  • Pages: 216
  • Original Price: GBP 67.0
  • Language: English
  • Edition: N/A
  • Item Weight: 431 grams
  • BISAC Subject(s): Econometrics

Mechanism design is the field of economics that treats institutions and procedures as variables that can be selected in order to achieve desired objectives. An important aspect of a mechanism is the communication among its participants that it requires, which complements other design features such as incentives and complexity. A calculus-based theory of communication in mechanisms is developed in this book. The value of a calculus-based approach lies in its familiarity as well as the insight into mechanisms that it provides. Results are developed concerning (i) a first order approach to the construction of mechanisms, (ii) the range of mechanisms that can be used to achieve a given objective, as well as (iii) lower bounds on the required communication.

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