Mechanism Design

2021/2022

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Economics

Course type:

Elective course

When:

4 year, 1 module

Instructors

Kondratev, Aleksei

Парамей Мария Яношевна

Course Syllabus

Abstract

Mechanism design is a science of how to construct economic mechanisms (rules, environments, institutions) with desirable properties. While the usual microeconomic approach aims at understanding how agents behave in certain environments given certain rules, Mechanism design aims at finding "good" rules that lead to desirable outcomes. At the same time the rules themselves have to be simple and non-manipulable, i.e. provide incentives to participate sincerely. Mechanism design uses game theory tools and can be considered as its most applied part. The range of applications is very broad: from auctions and internet marketplaces to admission of young students to colleges, voting mechanisms, online dating services, and many others.