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Mechanism Design

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Mechanism Design - MD
Publications: 9,472| Citation Count: 45,932
Stemming Variations: mechanisms designed, mechanical design, mechanical designs, mechanism designed, mechanic design
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    • Mechanism design is the economic theory of the design of effective resource allocation mechanisms, such as auctions. Traditionally, economists have approached design problems by studying the analytic properties of different mechanisms. An alternative approach is to view the auction mechanism as the outcome of some evolutionary process involving the participants: the buyers, sellers and the auctioneer...

    Steve Phelps, et al. Co-Evolution of Auction Mechanisms and Trading Strategies: Towards a N...

    • Mechanism design is the art of designing the rules of the game (aka. mechanism) so that a desirable outcome (according to a given objective) is reached despite the fact that each agent acts in his own selfinterest. Examples include the design of auctions, voting protocols, and divorce settlement procedures. Mechanisms have traditionally been designed manually for classes of problems. In 2002, Conitzer and Sandholm introduced the automated mechanism design approach, where the mechanism is computationally created for the specic problem instance at hand...

    Tuomas Sandholm. Automated Mechanism Design: A New Application Area for Search Algorith...

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