Encyclopedia of Systems and Control

Living Edition
| Editors: John Baillieul, Tariq Samad

Mechanism Design

  • Ramesh Johari
Living reference work entry
DOI: https://doi.org/10.1007/978-1-4471-5102-9_38-1

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.

Keywords

Mechanism design Incentive compatibility Game theory 
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Copyright information

© Springer-Verlag London 2013

Authors and Affiliations

  1. 1.Stanford UniversityStanfordUSA