"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...

"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...

Many auctions involve the sale of heterogenous indivisible objects. Examples are wireless spectrum, delivery routes and airport time slots. Because of complementarities or substitution effects between the objects, bidders have preferences not just over individual items but over subsets of them....