An Introduction to the Theory of Mechanism Design

Tilman Börgers (), Daniel Krahmer and Roland Strausz
Additional contact information
Daniel Krahmer: Department of Economics, Universitdt Bonn, Germany

in OUP Catalogue from Oxford University Press

Abstract: 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 Borgers 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 predictions about 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 and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Borgers 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. Available in OSO:

Date: 2015
ISBN: 9780199734023
References: Add references at CitEc
Citations: View citations in EconPapers (28)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oxp:obooks:9780199734023

Ordering information: This item can be ordered from
http://ukcatalogue.o ... uct/9780199734023.do

Access Statistics for this book

More books in OUP Catalogue from Oxford University Press
Bibliographic data for series maintained by Economics Book Marketing ().