Name: Designing Economic Mechanisms (en Inglés)
Price: 148792.00 COP
Availability: InStock
Author: Hurwicz, Leonid ; Reiter, Stanley
ISBN: 9780521724104

portada Designing Economic Mechanisms (en Inglés)

Formato

Libro Físico

Autor

Leonid Hurwicz

Stanley Reiter

Editorial

Cambridge University Press

Año

2004

Idioma

Inglés

N° páginas

354

Encuadernación

Tapa Blanda

Dimensiones

22.7 x 15.2 x 1.8 cm

Peso

0.48 kg.

ISBN

0521724104

ISBN13

9780521724104

N° edición

Categorías

Microeconomía
Econometría

Designing Economic Mechanisms (en Inglés)

Leonid Hurwicz (Autor) · Stanley Reiter (Autor) · Cambridge University Press · Tapa Blanda

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Reseña del libro "Designing Economic Mechanisms (en Inglés)"

A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such institutions; markets are the most familiar ones. Lawmakers, administrators and officers of private companies create institutions in orders to achieve desired goals. They seek to do so in ways that economize on the resources needed to operate the institutions, and that provide incentives that induce the required behaviors. This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism, i.e., informationally efficient mechanisms. Our systematic design procedures are algorithms for designing informationally efficient mechanisms. Most of the book deals with these procedures of design. When there are finitely many environments to be dealt with, and there is a Nash-implementing mechanism, our algorithms can be used to make that mechanism into an informationally efficient one. Informationally efficient dominant strategy implementation is also studied.