| Sumario: | The article discusses distributed algorithmic mechanism design (DAMD). DAMD sits at the confluence of econometrics and algorithm design, and focuses on developing procedures aimed at achieving some maximal or optimally efficient end. Auctions are a good example. Although many types of auctions exist, the goal is generally to select as winner the party willing to pay the highest amount. The author describes the application of DAMD to a simple auction, and further comments on the role of auctions in both the sale of online advertising, and the U.S. government’s distribution of wireless spectrum.
|
|---|