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The Theory of Mechanism Design: An Overview
Economic and Political Weekly
Vol. 42, No. 49 (Dec. 8 - 14, 2007), pp. 8-13
Published by: Economic and Political Weekly
Stable URL: http://www.jstor.org/stable/40277014
Page Count: 6
You can always find the topics here!Topics: Mechanism design, Economic theory, Auctions, Plurality voting, Voting, Children, Prices, Social choice, Mothers, Trade
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Three us-based economists have been awarded the Nobel Prize for economics for 2007 for laying the foundations of mechanism design theory. A description and discussion of this theory, its importance and the work of the award-winning economists. Mechanism design could help policymaking in a number of areas, one potential area is in drawing up the rules for land acquisition.
Economic and Political Weekly © 2007 Economic and Political Weekly