About the Mechanism Design and Game Theory category

Agent-based-system design, decision-making processes, incentive system architecture, algorithm design, etc.

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@Eric I hope this small contribution satisfies your requirements for your article.

The subject of game theory is very important, but it can be challenging to understand.

Listed below are a few things you can quickly comprehend:

  1. It may be difficult or impossible to “do what is best for society” because people respond to incentives.
  2. People who have insider information necessary for determining the best outcome must be compensated for it.
    Combining these two, public goods frequently cost more than they should because it is frequently impossible to gather enough information to make the best decision without paying off individuals.
  3. Even in simple situations, we can’t always achieve the best outcome, especially when using voluntary efforts and lacking comprehensive information
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