Two children are squabbling over how to divide a pie. We need a method to divide the pie fairly. Parents will already know one answer—one child cuts and the second child chooses. The second child will ...

The winners of the 2007 Nobel Memorial Prize in Economics, announced yesterday, are Leonid Hurwicz, Eric Maskin, and Roger Myerson. The three men received the prize for their work on "mechanism design ...

Mechanism design and implementation in game theory constitutes a pivotal branch of economic theory and theoretical computer science. This domain examines how rules and processes (mechanisms) may be ...

“WHAT on earth is mechanism design?” was the typical reaction to this year's Nobel prize in economics, announced on October 15th. In this era of “Freakonomics”, in which everyone is discovering their ...

STOCKHOLM, Sweden — Americans Leonid Hurwicz, Eric S. Maskin and Roger B. Myerson won the Nobel economics prize Monday for developing a theory that helps explain how sellers and buyers can maximize ...