An Introduction To The Theory Of Mechanism Design

Author: Tilman Borgers
Editor: Oxford University Press, USA
ISBN: 019973402X
Size: 15,65 MB
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This book is meant for advanced undergraduate and graduate students of economics who have a good understanding of game theory.

Game Theory And Mechanism Design

Author: Y Narahari
Editor: World Scientific
ISBN: 9814525065
Size: 15,33 MB
Format: PDF, Mobi
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This book offers a self-sufficient treatment of a key tool, game theory and mechanism design, to model, analyze, and solve centralized as well as decentralized design problems involving multiple autonomous agents that interact strategically in a rational and intelligent way. The contents of the book provide a sound foundation of game theory and mechanism design theory which clearly represent the “science” behind traditional as well as emerging economic applications for the society. The importance of the discipline of game theory has been recognized through numerous Nobel prizes in economic sciences being awarded to game theorists, including the 2005, 2007, and 2012 prizes. The book distills the marvelous contributions of these and other celebrated game theorists and presents it in a way that can be easily understood even by senior undergraduate students. A unique feature of the book is its detailed coverage of mechanism design which is the art of designing a game among strategic agents so that a social goal is realized in an equilibrium of the induced game. Another feature is a large number of illustrative examples that are representative of both classical and modern applications of game theory and mechanism design. The book also includes informative biographical sketches of game theory legends, and is specially customized to a general engineering audience. After a thorough reading of this book, readers would be able to apply game theory and mechanism design in a principled and mature way to solve relevant problems in computer science (esp, artificial intelligence/machine learning), computer engineering, operations research, industrial engineering and microeconomics. Contents:Introduction and OverviewNon-Cooperative Game Theory:Key Notions in Game TheoryExtensive Form GamesStrategic Form GamesDominant Strategy EquilibriaPure Strategy Nash EquilibriaMixed Strategies and Mixed Strategy Nash EquilibriumUtility TheoryMatrix GamesExistence of Nash EquilibriumComputation of Nash EquilibriaComplexity of Computing a Nash EquilibriumBayesian GamesMechanism Design:Introduction to Mechanism DesignImplementation of Social Choice Functions by MechanismsIncentive Compatibility and Revelation TheoremThe Gibbard-Satterthwaite Impossibility TheoremVickrey-Clarke-Groves (VCG) MechanismsMechanism Design Space in Quasilinear EnvironmentAuctionsOptimal Mechanisms and Myerson AuctionMechanism Design for Sponsored Search AuctionsImplementation in Ex-Post Nash EquilibriumFurther Topics in Mechanism DesignCooperative Game Theory:Correlated Strategies and Correlated EquilibriumThe Two Person Bargaining ProblemCoalitional Games with Transferable UtilityThe Core of Coalitional GamesThe Shapley ValueOther Solution Concepts in Cooperative Game TheoryStable MatchingEpilogueMathematical Preliminaries Readership: Senior undergraduate, first year master's, and first year research students, academics and industrial researchers in computer science, computer engineering, networks and communications, artificial intelligence/machine learning, operations research, industrial engineering, management science, and microeconomics. Keywords:Game Theory;Mechanism Design;Noncooperative Game Theory;Nash EquilibriumKey Features:First of its kind to include a balanced treatment of noncooperative game theory, cooperative game theory, as well as mechanism designIncorporates a large number of apt, illustrative examples to facilitate an immediate and comprehensive understanding of the concepts and ideasExamples chosen carefully from traditional and modern topics in computer science, networks, and microeconomicsIncludes biographical sketches of leading game theorists at appropriate placesReviews: “I am very pleased that Y Narahari has written this lovely text, which presents the fundamentals of game theory and mechanism design clearly and concisely. In doing so, Dr Narahari has performed a great service to students and researchers interested in the lively interface between engineering sciences and economics.” Professor Eric Maskin Harvard University Nobel Laureate in Economic Sciences, 2007 “The theory of Games and Mechanism Design find today wide applications in Economics, Engineering, and Operations Research. This is one of the few books which present a detailed account of both Non-Cooperative and Cooperative Games as well as Mechanism Design, all under one cover. Proofs of important theorems are given in a clear and succinct manner and the bibliographical and biographical references are particularly valuable. The book can serve both as a graduate text as well as a reference volume. I highly recommend it.” Sanjoy K Mitter Massachusetts Institute of Technology, Cambridge, MA, USA “This is a splendid book for engineers by an engineer. It has the ideal choice of topics and emphasis that reflects the driving themes in game theory, such as mechanism design, that have lead the revival of game theory in recent times and its multifarious applications in cybercommerce and allied areas. The lucidly written byte-sized chapters rich with examples and historical details make it an exciting read. This is the right book at the right time.” Vivek Borkar Indian Institute of Technology-Bombay, Mumbai, India “This book covers a subject which now straddles at least three subjects — Economics, Mathematics and Computer Science. It is a comprehensive presentation for a wide range of readers from the novice to experts in related areas who want to inform themselves of Game Theory and Mechanism Design. The book has a very readable from-first-principles approach to topics which commendably illuminates while not sacrificing rigor.” Ravi Kannan Microsoft Research and Indian Institute of Science, Bangalore, India “Narahari's book is a beautifully written text that handles both introductory material and advanced topics well.” Preston McAfee Google, Mountain View, CA, USA “This marvelous book on Game Theory and Mechanism Design is an essential reference for beginners and practitioners alike. The book covers the basic concepts needed to understand game theory and powerful practical implications of the theory embodied in mechanism design. Narahari excels at elucidating the essentials of game theory, while motivating the reader with a number of illustrative examples and real-world applications from engineering, economics and networks. It is fun to read and should be on the shelf of any student or practitioner interested in the practical applications of game theory.” Krishna Pattipati University of Connecticut, Storrs, CT, USA “Game Theory is the formal analysis of strategic behavior. It originated with the classic book of von Neumann and Morgenstern in the 1940's and over the last 70 years, has become a vital ingredient in both the social and engineering sciences. Professor Narahari is a leading expert in the burgeoning area of game theoretic applications to computer science. His lucid and elegant book, packed with examples and historical background, is a wonderful introduction to modern Game Theory. It clearly lays out the central concepts and results of the theory while conveying its potential for providing insights to a range of interesting practical problems. The book will be invaluable to students from diverse backgrounds such as economics, mathematics, and engineering.” Arunava Sen Indian Statistical Institute, New Delhi, India “Game Theory and Mechanism Design is impressive in its broad coverage of cooperative games, non-cooperative games and mechanism design from an engineering perspective. The book is rich in examples and exercises, and couples historical appraisals of the evolution of the field with careful mathematical proofs. It should be valuable both as a graduate text and for reference.” Chris Dance Xerox Research Centre Europe, Grenoble, France

An Introduction To Auction Theory

Author: Flavio M. Menezes
Editor: Oxford University Press, USA
ISBN: 9780199275991
Size: 19,88 MB
Format: PDF, Docs
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The practical importance of auction theory is widely recognized. Indeed, economists have been recognized for their contribution to the design of several auction-like mechanisms, such as the U. S. Federal Communications Commission spectrum auctions, the 3G auctions in Europe and beyond, and the auction markets for electricity markets around the world. This book provides a step-by-step, self-contained treatment of the theory of auctions. The aim is to provide an introductory textbook that will allow students and readers with a calculus background to work through all the basic results. Coverage includes: the basic independent-private-model; the effects of introducing correlation in valuations on equilibrium behaviour and the seller's expected revenue; mechanism design; and the theory of multi-object auctions. The paperback edition of the text includes a new chapter which acts as a guide to current developments in auction theory.

Mechanism Design

Author: Molian
Editor: CUP Archive
ISBN: 9780521231930
Size: 17,66 MB
Format: PDF, Kindle
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Mechanism Design

Author: Rakesh V. Vohra
Editor: Cambridge University Press
ISBN: 1139499173
Size: 14,70 MB
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Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design.

Games And Information

Author: Eric Rasmusen
Editor: Wiley-Blackwell
ISBN: 9780631210955
Size: 19,70 MB
Format: PDF, ePub
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What may be the most successful introductory game theory textbook ever written is now available in its fourth edition. Since it first published in 1989, successive editions have made its presentation ever more elegant, with incisive problem sets and applications.

Putting Auction Theory To Work

Author: Paul Milgrom
Editor: Cambridge University Press
ISBN: 9780521536721
Size: 11,13 MB
Format: PDF, ePub, Mobi
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A comprehensive introduction to modern auction theory and its applications. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used.

Game Theory

Author: Steve Tadelis
Editor: Princeton University Press
ISBN: 0691129088
Size: 10,50 MB
Format: PDF
Read: 703

This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss strategic and extensive form games with complete information, Bayesian games, and extensive form games with imperfect information. He covers a host of topics, including multistage and repeated games, bargaining theory, auctions, rent-seeking games, mechanism design, signaling games, reputation building, and information transmission games. Unlike other books on game theory, this one begins with the idea of rationality and explores its implications for multiperson decision problems through concepts like dominated strategies and rationalizability. Only then does it present the subject of Nash equilibrium and its derivatives. Game Theory is the ideal textbook for advanced undergraduate and beginning graduate students. Throughout, concepts and methods are explained using real-world examples backed by precise analytic material. The book features many important applications to economics and political science, as well as numerous exercises that focus on how to formalize informal situations and then analyze them. Introduces the core ideas and applications of game theory Covers static and dynamic games, with complete and incomplete information Features a variety of examples, applications, and exercises Topics include repeated games, bargaining, auctions, signaling, reputation, and information transmission Ideal for advanced undergraduate and beginning graduate students Complete solutions available to teachers and selected solutions available to students

Market Design

Author: Guillaume Haeringer
Editor: MIT Press
ISBN: 0262037548
Size: 16,67 MB
Format: PDF
Read: 782

This book offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows the text to analyze a broad set of situations -- including such unconventional markets as college admissions and organ donation -- and forces readers to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems. The book focuses on the interplay between theory and applications. To keep the text as accessible as possible, special effort has been made to minimize formal description of the models while emphasizing the intuitive, with detailed explanations and resolution of examples. Appendixes offer general reviews of elements of game theory and mechanism design that are related to the themes explored in the book, presenting the basic concepts with as many explanations and illustrations as possible. The book covers topics including the basics of simple auctions; eBay auctions; Vickrey--Clarke--Groves auctions; keyword auctions, with examples from Google and Facebook; spectrum auctions; financial markets, with discussions of treasury auctions and IPOs; trading on the stock market; the basic matching model; medical match; assignment problems; probabilistic assignments; school choice; course allocation, with examples from Harvard and Wharton; and kidney exchange.

Modeling Strategic Behavior A Graduate Introduction To Game Theory And Mechanism Design

Author: Mailath George J
Editor: World Scientific
ISBN: 9813239956
Size: 11,29 MB
Format: PDF, Mobi
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This book provides a graduate level introduction to the economic modeling of strategic behavior. The goal is to teach economics doctoral students the tools of game theory and mechanism design that all economists should know. These tools play a critical role in economic research.