Mechanism Design
Channel: Systems Innovation
Date: 11/01/2019

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Game theory is the study of the strategic interaction between adaptive agents and the dynamics of cooperation and competition that emerge out of this. A much more recent extension of this is mechanism design. Mechanism design is a field in economics and game theory that takes an engineering approach to designing economic incentives toward desired objectives, in strategic settings. Because it starts at the end of the game, then goes backward, it is also called reverse game theory. It has broad applications in the management of markets, auctions, voting procedures and is of particular relevance to token economics.

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