000			02354 a2200229 4500
003			OSt
005			20250604020003.0
008			221128b xxu||||| |||| 00| 0 eng d
020			_a9780262037549
040			_cIIT Kanpur
041			_aeng
082			_a381.1 _bH118m
100			_aHaeringer, Guillaume
245			_aMarket design _bauctions and matching _cGuillaume Haeringer
260			_bThe MIT Press _c2017 _aCambridge
300			_axvii, 373p
520			_aA broad overview of market mechanisms, with an emphasis on the interplay between theory and real-life applications; examples range from eBay auctions to school choice.This book offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows the text to analyze a broad set of situations—including such unconventional markets as college admissions and organ donation—and forces readers to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems. The book focuses on the interplay between theory and applications. To keep the text as accessible as possible, special effort has been made to minimize formal description of the models while emphasizing the intuitive, with detailed explanations and resolution of examples. Appendixes offer general reviews of elements of game theory and mechanism design that are related to the themes explored in the book, presenting the basic concepts with as many explanations and illustrations as possible.The book covers topics including the basics of simple auctions; eBay auctions; Vickrey–Clarke–Groves auctions; keyword auctions, with examples from Google and Facebook; spectrum auctions; financial markets, with discussions of treasury auctions and IPOs; trading on the stock market; the basic matching model; medical match; assignment problems; probabilistic assignments; school choice; course allocation, with examples from Harvard and Wharton; and kidney exchange.
650			_aMarkets
650			_aMicroeconomics
650			_aAuctions
942			_cBK _01
999			_c566263 _d566263