Robust Mechanism Design
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Robust Mechanism Design The Role Of Private Information And Higher Order Beliefs
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Author : Dirk Bergemann
language : en
Publisher: World Scientific
Release Date : 2012-03-22
Robust Mechanism Design The Role Of Private Information And Higher Order Beliefs written by Dirk Bergemann and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-22 with Business & Economics categories.
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Robust Mechanism Design
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Author : Dirk Bergemann
language : en
Publisher: World Scientific
Release Date : 2012
Robust Mechanism Design written by Dirk Bergemann and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
An Introduction To Robust Mechanism Design
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Author : Dirk Bergemann
language : en
Publisher:
Release Date : 2013
An Introduction To Robust Mechanism Design written by Dirk Bergemann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Prices categories.
This essay provides an introduction to our recent work on robust mechanism design. The objective is to provide an overview of the research agenda and its results. We present the main results and illustrate many of them in terms of a common and canonical example, the single unit auction with interdependent values. In addition, we provide an extended discussion about the role of alternative assumptions about type spaces in our work, and the literature at large, in order to explain the common logic of the informational robustness approach that unifies the work.
An Introduction To Robust Mechanism Design
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Author : Dirk Bergemann
language : en
Publisher: Now Pub
Release Date : 2013-02
An Introduction To Robust Mechanism Design written by Dirk Bergemann and has been published by Now Pub this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02 with Business & Economics categories.
An Introduction to Robust Mechanism Design brings together and presents a number of results on the theme of robust mechanism design and robust implementation that the authors have been working on in the past decade. This work examines the implications of relaxing the strong informational assumptions that drive much of the mechanism design literature. The objective is to provide the reader with an overview of the research agenda and present the main results of this research by illustrating it in terms of a common and canonical example -- the single unit auction with interdependent values. In addition, the monograph includes an extended discussion on the role of alternative assumptions about type spaces in the authors' work. It also discusses the literature to explain the common logic of the informational robustness approach that unifies the work that is surveyed in this monograph.
An Introduction To The Theory Of Mechanism Design
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Author : Tilman Borgers
language : en
Publisher: Oxford University Press
Release Date : 2015-05-01
An Introduction To The Theory Of Mechanism Design written by Tilman Borgers and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-01 with Business & Economics categories.
What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? In An Introduction to the Theory of Mechanism Design, Tilman Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself as well as the results of the instrument. An Introduction to the Theory of Mechanism Design provides rigorous but accessible explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Börgers also provides an examination of the frontiers of current research in the area with an original and unified perspective that will appeal to advanced students of economics.
Mechanism Design
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Author : Rakesh V. Vohra
language : en
Publisher: Cambridge University Press
Release Date : 2011-05-09
Mechanism Design written by Rakesh V. Vohra and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-09 with Business & Economics categories.
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 based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design.
Algorithmic Mechanism Design For Internet Of Things Services Market
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Author : Yutao Jiao
language : en
Publisher: Springer Nature
Release Date : 2021-11-26
Algorithmic Mechanism Design For Internet Of Things Services Market written by Yutao Jiao and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-26 with Technology & Engineering categories.
This book establishes game-theoretical frameworks based on the mechanism design theory and proposes strategy-proof algorithms, to optimally allocate and price the related IoT services, so that the social welfare of IoT ecosystem or the service provider’s revenue can be maximized and the IoT service provision can be sustainable. This book is written by experts based on the recent research results on the interaction between the service providers and users in the IoT system. Since the IoT networks are essentially supported by data, communication, and computing resources, the book focuses on three representative IoT services, including the data analytics services, the cloud/fog computing services for blockchain networks, and the wireless powered data crowdsourcing services. Researchers, scientists, and engineers in the field of resource allocation and service management for future IoT ecosystem can benefit from the book. As such, this book provides valuable insights and practical methods, especially the novel deep learning-based mechanism that can be considered in the emerging IoT technology.
Robust Optimization
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Author : Aharon Ben-Tal
language : en
Publisher: Princeton University Press
Release Date : 2009-08-10
Robust Optimization written by Aharon Ben-Tal and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-10 with Mathematics categories.
Robust optimization is still a relatively new approach to optimization problems affected by uncertainty, but it has already proved so useful in real applications that it is difficult to tackle such problems today without considering this powerful methodology. Written by the principal developers of robust optimization, and describing the main achievements of a decade of research, this is the first book to provide a comprehensive and up-to-date account of the subject. Robust optimization is designed to meet some major challenges associated with uncertainty-affected optimization problems: to operate under lack of full information on the nature of uncertainty; to model the problem in a form that can be solved efficiently; and to provide guarantees about the performance of the solution. The book starts with a relatively simple treatment of uncertain linear programming, proceeding with a deep analysis of the interconnections between the construction of appropriate uncertainty sets and the classical chance constraints (probabilistic) approach. It then develops the robust optimization theory for uncertain conic quadratic and semidefinite optimization problems and dynamic (multistage) problems. The theory is supported by numerous examples and computational illustrations. An essential book for anyone working on optimization and decision making under uncertainty, Robust Optimization also makes an ideal graduate textbook on the subject.
Evaluating The Conditions For Robust Mechanism Design
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Author : Takashi Kunimoto
language : en
Publisher:
Release Date : 2010
Evaluating The Conditions For Robust Mechanism Design written by Takashi Kunimoto and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
We assess the strength of the different conditions identified in the literature of robust mechanism design. We focus on three conditions: ex post incentive compatibility, robust monotonicity, and robust measurability. Ex post incentive compatibility has been shown to be necessary for any concept of robust implementation, while robust monotonicity and robust measurability have been shown to be necessary for robust (full) exact and virtual implementation, respectively. This paper shows that while violations of ex post incentive compatibility and robust monotonicity do not easily go away, we identify a mild condition on environments in which robust measurability is satisfied by all social choice functions over an open and dense subset of first-order types. We conclude that there is a precise sense in which robust virtual implementation can be significantly more permissive than robust exact implementation. -- robust mechanism design ; ex post incentive compatibility ; robust monotonicity ; robust measurability
Game Theory And Mechanism Design
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Author : Y Narahari
language : en
Publisher: World Scientific
Release Date : 2014-03-13
Game Theory And Mechanism Design written by Y Narahari and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-13 with Computers categories.
This book offers a self-sufficient treatment of a key tool, game theory and mechanism design, to model, analyze, and solve centralized as well as decentralized design problems involving multiple autonomous agents that interact strategically in a rational and intelligent way. The contents of the book provide a sound foundation of game theory and mechanism design theory which clearly represent the “science” behind traditional as well as emerging economic applications for the society.The importance of the discipline of game theory has been recognized through numerous Nobel prizes in economic sciences being awarded to game theorists, including the 2005, 2007, and 2012 prizes. The book distills the marvelous contributions of these and other celebrated game theorists and presents it in a way that can be easily understood even by senior undergraduate students.A unique feature of the book is its detailed coverage of mechanism design which is the art of designing a game among strategic agents so that a social goal is realized in an equilibrium of the induced game. Another feature is a large number of illustrative examples that are representative of both classical and modern applications of game theory and mechanism design. The book also includes informative biographical sketches of game theory legends, and is specially customized to a general engineering audience.After a thorough reading of this book, readers would be able to apply game theory and mechanism design in a principled and mature way to solve relevant problems in computer science (esp, artificial intelligence/machine learning), computer engineering, operations research, industrial engineering and microeconomics.