Abstract
Mechanism design is concerned with the design of strategic environments to achieve desired outcomes at equilibria of the resulting game. We briefly overview central ideas in mechanism design. We survey both objectives the mechanism designer may seek to achieve, as well as equilibrium concepts the designer may use to model agents. We conclude by discussing a seminal example of mechanism design at work: the Vickrey-Clarke-Groves (VCG) mechanisms.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Berry RA, Johari R (2011) Economic modeling in networking: a primer. Found Trends Netw 6(3):165–286
Clarke EH (1971) Multipart pricing of public goods. Public Choice 11(1):17–33
Groves T (1973) Incentives in teams. Econometrica 41(4):617–631
Hajek B (2013) Auction theory. In: Encyclopedia of systems and control. Springer
Mas-Colell A, Whinston M, Green J (1995) Microeconomic theory. Oxford University Press, New York
Moore J (1992) Implementation, contracts, and renegotiation in environments with complete information. Adv Econ Theory 1:182–281
Myerson RB (1981) Optimal auction design. Math Oper Res 6(1):58–73
Nisan N, Roughgarden T, Tardos E, Vazirani V (eds) (2007) Algorithmic game theory. Cambridge University Press, Cambridge/New York
Vickrey W (1961) Counterspeculation, auctions, and competitive sealed tenders. J Financ 16(1): 8–37
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2015 Springer-Verlag London
About this entry
Cite this entry
Johari, R. (2015). Mechanism Design. In: Baillieul, J., Samad, T. (eds) Encyclopedia of Systems and Control. Springer, London. https://doi.org/10.1007/978-1-4471-5058-9_38
Download citation
DOI: https://doi.org/10.1007/978-1-4471-5058-9_38
Published:
Publisher Name: Springer, London
Print ISBN: 978-1-4471-5057-2
Online ISBN: 978-1-4471-5058-9
eBook Packages: EngineeringReference Module Computer Science and Engineering