311705 Mechanism Design (Microeconomics 2b) (V) (SoSe 2010)

The content of the class is a part of game theory that is particularly
important and suitable for applications in economics ,social sciences
and beyond.

This is the twin pair of " mechanism design" and " implementation theory".

The basic problem is: A planner ( "designer" ) has to invent game rules ( " mechanism" ) such that a large class of pupulations of potential players, desribed by their preferences on certain social outcomes, when playing an equilibrium according to these rules automatically realize ( "implement") some prespecified desired ( depending on this group´s preferences) social state.

This topic is equally important in economics (welfare;contracts) and in management science ( principal -agent- relations) and
economics of law ( incentives;punishment rules).

Teilnahmevoraussetzungen, notwendige Vorkenntnisse

Formal requirement is a bachelor degree or some equivalent.
A solid basis in intermediate microeconomis and in bachelor level
mathematics is assumed. The class is taught in English.
This course follows in a natural way the course 311706 Noncooperative Game Theory / Microeconomics 2a

Literaturangaben

OSBORNE,M.J. & A.RUBINSTEIN (1994):A Course in Game Theory
chapter 10

MAS-COLELL,A.,WHINSTON,M.D.& GREEN,J.R.(1995): Microeconomic Theory,Chapter 23,Oxford University Press

BINMORE,K. & P.DASGUPTA (eds.) (1986):Economic Organizations as Games,Chapters 1,8,9

http://nobelprize.org/nobel_prizes/economics/laureates/2007/ecoadv07.pdf

HURWICZ,Leo (2007):But who will guard the guardians?
Prize Lecture 2007,Amer.Econ.Review,98:3,June 2008,577-585

Externe Kommentarseite

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