CORDIS Project
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This project focuses on improving the design of economic mechanisms, particularly in situations where the designer has more information than the participants. It aims to create optimal mechanisms for various applications, including insurance markets, by addressing challenges posed by big data and repeated interactions.
Mechanism design is the engineering side of economics.
Research findings in this field have helped governments and practitioners worldwide design better institutions: auctions that are more profitable or efficient; labour markets that improve the match between employees and employers; and better ways to assign students to public schools.
The cornerstone of mechanism design is the revelation principle, which provides a canonical class of mechanisms and turns the mechanism-selection problem (whic…
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