2 Matching Annotations
  1. Oct 2018
  2. Jun 2018
    1. Mechanism design studies solution concepts for a class of private-information games. Leonid Hurwicz explains that 'in a design problem, the goal function is the main "given", while the mechanism is the unknown. Therefore, the design problem is the "inverse" of traditional economic theory, which is typically devoted to the analysis of the performance of a given mechanism.'[1] So, two distinguishing features of these games are: that a game "designer" chooses the game structure rather than inheriting one that the designer is interested in the game's outcome

      Advantages over traditional game theory for token econimics:

      • a game "designer" chooses the game structure rather than inheriting one
      • that the designer is interested in the game's outcome