Mechanism Design: Engineering Games with Desired Outcomes
Mechanism Design: Engineering Games with Desired Outcomes In 2012, Alvin Roth and Lloyd Shapley won the Nobel Prize in Economics for mechanism design — the art of reverse-engineering game theory. Instead of analyzing existing games, mechanism design asks: Can we design the rules to get the outcome we want? The result? Kidney exchange networks that save thousands of lives Spectrum auctions that raised $100+ billion for governments School choice systems that match students to schools fairly Voting systems that resist manipulation Mechanism design is game theory’s most powerful application — turning abstract mathematics into real-world systems that align incentives and produce efficient outcomes. ...