Comprehension questions for Mechanism Design
Please answer these questions concisely (1-2 sentences each).
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Name four properties that we would like mechanisms to have. *
What does it mean to implement a social choice function in a dominant strategy equilibrium? *
How can a complex, indirect mechanism that dominant-strategy implements a social choice function be simplified? *
What’s the problem with applying the VCG mechanism to the exchange domain? *
Which (sub-)section in the readings did you find difficult and/or did you not fully understand and/or would you like see covered in the lecture in detail. Be as specific as you like. *
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