Author : Steven R. Williams
Publisher : Cambridge University Press
ISBN 13 : 1139471791
Total Pages : 5 pages
Book Rating : 4.94/5 ( download)
Book Synopsis Communication in Mechanism Design by : Steven R. Williams
Download or read book Communication in Mechanism Design written by Steven R. Williams and published by Cambridge University Press. This book was released on 2008-06-02 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.