2008 | OriginalPaper | Chapter
Mechanism Design Theory: How to Implement Social Goals
Author : Eric Maskin
Published in: Internet and Network Economics
Publisher: Springer Berlin Heidelberg
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The theory of mechanism design can be thought of as the engineering side of economic theory. One begins by identifying a social or economic goal. The theory then addresses the question of whether or not an appropriate institution or procedure (that is, a mechanism) could be designed to attain that goal.