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Budget-feasible Mechanism
In mechanism design, a branch of economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ..., a budget-feasible mechanism is a mechanism in which the total payment made by the auctioneer is upper-bounded by a fixed pre-specified budget. They were first presented by Yaron Singer, and studied by several others. References Mechanism design Auction theory {{Economics-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mechanism Design
Mechanism design (sometimes implementation theory or institution design) is a branch of economics and game theory. It studies how to construct rules—called Game form, mechanisms or institutions—that produce good outcomes according to Social welfare function, some predefined metric, even when the designer does not know the players' true preferences or what information they have. Mechanism design thus focuses on the study of solution concepts for a class of private-information games. Mechanism design has broad applications, including traditional domains of economics such as market design, but also political science (through voting theory). It is a foundational component in the operation of the internet, being used in networked systems (such as inter-domain routing), e-commerce, and Sponsored search auction, advertisement auctions by Facebook and Google. Because it starts with the end of the game (a particular result), then works backwards to find a game that implements it, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yaron Singer
Yaron () is a Hebrew name meaning "is full of joy", "will be full of joy", or "to shout, to sing". It is common in Israel as both a male first name and a surname. Its English-language equivalent is Jaron. Notable people with the first name Yaron include: * Yaron Brook (born 1961), Israeli-American entrepreneur, writer, and activist, former CEO of the Ayn Rand Institute * Yaron Brown (born 1958), Israeli soccer player * Yaron Golan (1949-2007), Israeli publisher * Yaron Herman (born 1981), Israeli-French jazz pianist * Yaron Kohlberg (born 1983), Israeli classical pianist * Yaron Lifschitz (born 1970), Australian theatre director * Yaron Lischinsky, German-Israeli victim of a 2025 shooting * Yaron London (born 1940), Israeli media personality * Yaron Margolin (born 1954), Israeli dancer and choreographer * Yaron Matras (born 1963), British linguist * Yaron Svoray, Israeli author and investigative journalist * Yaron Traub (born 1964), Israeli conductor and pianist * Yaron Zilberm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mechanism Design
Mechanism design (sometimes implementation theory or institution design) is a branch of economics and game theory. It studies how to construct rules—called Game form, mechanisms or institutions—that produce good outcomes according to Social welfare function, some predefined metric, even when the designer does not know the players' true preferences or what information they have. Mechanism design thus focuses on the study of solution concepts for a class of private-information games. Mechanism design has broad applications, including traditional domains of economics such as market design, but also political science (through voting theory). It is a foundational component in the operation of the internet, being used in networked systems (such as inter-domain routing), e-commerce, and Sponsored search auction, advertisement auctions by Facebook and Google. Because it starts with the end of the game (a particular result), then works backwards to find a game that implements it, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
