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Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This
volume brings together the collected contributions on the theme of
robust mechanism design and robust implementation that Dirk
Bergemann and Stephen Morris have been working on for the past
decade. The collection is preceded by a comprehensive introductory
essay, specifically written for this volume with the aim of
providing the readers with an overview of the research agenda
pursued in the collected papers.The introduction selectively
presents the main results of the papers, and attempts to illustrate
many of them in terms of a common and canonical example, namely a
single unit auction with interdependent values. It is our hope that
the use of this example facilitates the presentation of the results
and that it brings the main insights within the context of an
important economic mechanism, namely the generalized second price
auction.
This volume brings together the collected contributions of Dirk
Bergemann and Juuso Valimaki, on the theme of learning,
experimentation and intertemporal incentives, spanning over two
decades of thought (1996 to 2019).The collection starts with a
comprehensive introduction to the recent developments of dynamic
mechanism design with a primary focus on the quasilinear case. The
authors describe socially optimal and revenue optimal dynamic
mechanism. They cover models of sequential screening and revenue
maximizing auctions with dynamically changing bidder types, and
also discuss models of information management where the mechanism
designer can control (at least partially) the stochastic process
governing the agent's types.Consolidating the research agenda on
learning, experimentation, and dynamic mechanism design, which has
been prominent in the area of economic theory, the authors present
for the first time the main results of the research agenda in this
volume.
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