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Mechanism design is a branch of economics, social choice theory, and game theory that deals with designing games (or mechanisms) to implement a given social choice function. Because it starts at the end of the game (the optimal result) and then works backwards to find a game that implements it, it is sometimes called reverse game theory .
- Mechanism (engineering)
The design of mechanisms to achieve a particular movement...
- Algorithmic mechanism design
Algorithmic mechanism design. Algorithmic mechanism design (...
- Mechanism (engineering)
The design of mechanisms to achieve a particular movement and force transmission is known as the kinematic synthesis of mechanisms. This is a set of geometric techniques which yield the dimensions of linkages, cam and follower mechanisms, and gears and gear trains to perform a required mechanical movement and power transmission.
Algorithmic mechanism design. Algorithmic mechanism design ( AMD) lies at the intersection of economic game theory, optimization, and computer science. The prototypical problem in mechanism design is to design a system for multiple self-interested participants, such that the participants' self-interested actions at equilibrium lead to good ...
To get a sense of what mechanism design is, we begin with a fable, first told by the Nobelist, Ronald Coase. It involves, as all good fables do, a coalburning locomotive and a farmer. The locomotive emits sparks that set fire to the farmer's crops. Suppose that running the locomotive yields $1,000 worth of profit for the railroad but causes ...
Mechanism design is a branch of economics, social choice theory, and game theory that deals with designing games to implement a given social choice function. Because it starts at the end of the game and then works backwards to find a game that implements it, it is sometimes called reverse game theory.
Mar 9, 2016 · Mechanism design is a subfield of microeconomics and game theory. It considers how to implement good system-wide solutions to problems that involve multiple self-interested agents [ 1 ]. In 2007, the Nobel Prize in economics was awarded to Leonid Hurwicz, Eric Maskin, and Roger Myerson “for having laid the foundations of mechanism design ...
Apr 29, 2010 · These mechanisms are called “direct” since every buyer is asked directly to report a value. Formally a direct mechanism (Q, M) consists of the following components: A function Q : X → , where Qi (x) is the probability that i will get. Δ. the object, A function M : X → N , where Mi (x) is the payment by buyer i. R.
