Designing Economic Mechanisms

"This book presents systematic procedures for designing mechanisms that achieve specified performance and economize on the resources required to operate the mechanism, i.e., informationally efficient mechanisms. Our systematic design procedures can be viewed as algorithms for designing informationally efficient mechanisms. Most of the book deals with these procedures of design. Beyond this, given a mechanism that implements a goal function in Nash equilibrium, our algorithm constructs a decentralized, informationally efficient mechanism that implements that goal function in correlated equilibrium."--BOOK JACKET.