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Concept
Mechanism Design
Mechanism design
is a
field in economics
and
game theory
that focuses on
designing systems
or institutions that align individual incentives with
overall social objectives
, often in situations where participants have private information. It reverses the
traditional approach of economic analysis
by starting with
desired outcomes
and working backwards to determine the rules or mechanisms that will achieve them.
Relevant Degrees
Economic Theory and Concepts 63%
Operational Research 38%
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