Project SherlockEst. Knowledge

Lecture

2007

Perspectives on Mechanism Design in Economic Theory

Roger B. Myerson

Surveys mechanism design as reverse game theory, showing how the revelation principle lets a designer characterise every social-choice rule implementable once self-interested agents each hold private information.

Before you start

FreeIntermediatelink checked 17 Sept 2026

Read these first

Not a difficulty warning — a route. These are in the library too.

Counterspeculation, Auctions, and Competitive Sealed TendersWilliam Vickrey, 1961Shows that in a sealed-bid second-price auction, bidding one's true valuation is a dominant strategy, founding modern auction theory and explaining why first-price rules invite costly counterspeculation.

Filed under Game Theory & Mechanism Design in Economics.