"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...

This research monograph provides systematic and comprehensive materials for applying inframarginal analysis to study a wide range of economic phenomena. The analysis is based on a new overarching framework to resurrect the classical notion of division of labor and specialization, which is an...