Presents methods for designing institutions that direct and coordinate economic activity to achieve specified goals. These methods design informationally efficient mechanisms. The book uses mathematics, but is written so as to make the material accessible to economic theorists, applied...

Intro -- Contents -- Preface -- I. Introduction -- 1. Decentralization and Incentives -- 2. Incentive Compatibility since 1972 -- II. Informational Comparisons -- 3. Informational Requirements of Parametric Resource Allocation Processes -- 4. Price versus Direct Revelation: Informational...