Communication in Mechanism Design
A Differential Approach

This book develops a calculus-based theory of communication in economic mechanisms.

Steven R. Williams (Author)

9780521851312, Cambridge University Press

Hardback, published 2 June 2008

216 pages
23.3 x 15.9 x 2 cm, 0.49 kg

"This book is a valuable addition to economics and the mechanism design literature. Williams has nicely resurrected, clarified, illustrated, and described an important part of this area that has not been as fully exploited as it could and should."
Donald Saari, University of California, Irvine

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.

1. Introduction
2. Classical concepts and results
3. Applications to mechanisms
4. Realizing a C? mapping.

Subject Areas: Computer science [UY], Economics [KC], Research methods: general [GPS]