23793 Mechanism Design3cp
Requisite(s): 23715 Game Theory and Strategic Decision Making
There are course requisites for this subject. See access conditions.
Traditionally, economics focuses on the study of existing markets but recently, economists have been involved in the design of markets for new products and the redesign of existing markets that are performing poorly. The subject focuses on strategic decision-making and the theory and practice of mechanism design. Applications are drawn from online auction markets, government auctions of natural resources, matching markets (students to classes or schools, medical residents to hospitals, kidneys to recipients), health care markets, and electricity markets.
Detailed subject description.