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 ...

, 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