Mechanism design and implementation in game theory constitutes a pivotal branch of economic theory and theoretical computer science. This domain examines how rules and processes (mechanisms) may be ...

The Royal Swedish Academy of Sciences has awarded The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2007 jointly to Leonid Hurwicz, of the University of Minnesota, Eric S.

In a public good environment with positively correlated types, we characterize optimal mechanisms when agents have private information and can enter collusive agreements. First, we prove a ...

This essay presents necessary and sufficient first-order conditions for the general design of allocation mechanisms that decentralize Pareto optimal decisions in Arrow-Hahn-McKenzie (AHM) economies.