Exploring 'compellingness' in mechanism design
Friday, May 26, 2023 - 12:34
in Mathematics & Economics
Consider an auction. You have two types of main protagonists or agents: a seller (or auctioneer) and many potential buyers. There are, of course, certain ground rules. For instance, one objective may be to design the auction in such a way that the person buying the item(s) up for sale is the buyer "who values that good the most."