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"Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design...
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This paper highlights connections between the discrete and continuous approaches to optimal auction design with single and multi-dimensional types. We provide an interpretaion of an optimal auction design problem in terms of a linear program that is an instance of a parametric shortest path...
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Under full substitutability of preferences, it has been shown that a competitive equilibrium exists in trading networks, and is equivalent (after a restriction to equilibrium trades) to (chain) stable outcomes. In this paper, we formulate the problem of finding an efficient outcome as a...
Persistent link: https://www.econbiz.de/10011522739
This paper highlights connections between the discrete and continuous approaches to optimal auction design with single and multi-dimensional types. We provide an interpretaion of an optimal auction design problem in terms of a linear program that is an instance of a parametric shortest path...
Persistent link: https://www.econbiz.de/10010266256