Bachelor
2021/2022
Mechanism Design
Type:
Elective course (Economics)
Area of studies:
Economics
Delivered by:
Department of Economics
When:
4 year, 1 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Language:
English
ECTS credits:
3
Contact hours:
28
Course Syllabus
Abstract
Mechanism design is a science of how to construct economic mechanisms (rules, environments, institutions) with desirable properties. While the usual microeconomic approach aims at understanding how agents behave in certain environments given certain rules, Mechanism design aims at finding "good" rules that lead to desirable outcomes. At the same time the rules themselves have to be simple and non-manipulable, i.e. provide incentives to participate sincerely. Mechanism design uses game theory tools and can be considered as its most applied part. The range of applications is very broad: from auctions and internet marketplaces to admission of young students to colleges, voting mechanisms, online dating services, and many others.