Mechanism Design

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Designing systems where rational agents behave as desired.

Full Definition

Designing systems where rational agents behave as desired.

Keywords

incentive engineering

Domains

Agents & Autonomy

Related Terms

Auction Mechanism related to

Rules governing auctions.

 Vickrey Auction related to

Truthful bidding is optimal strategy.

 Market Design related to

Designing efficient marketplaces.

 Coordination Failure related to

Agents fail to coordinate optimally.

 Competitive Game related to

Agents have opposing objectives.

 Mixed-Motive Game related to

Combination of cooperation and competition.

 Nash Equilibrium related to

No agent benefits from unilateral deviation.

 Pareto Optimality related to

No agent can improve without hurting another.

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