Take Action

Home | Faculty & Research Overview | Research

Research Details

The Role of Characterizations in Market Design

Abstract

Much of the literature on mechanism design---the study of abstract resource allocation rules---has used an axiomatic approach to describe what is achievable in the design of resource allocation rules. Even though market design problems are often based on such abstract mechanism design problems, they tend to include additional institutional constraints or objectives that are specific to a particular industry or application. Nevertheless, since these constraints and objectives often can be expressed axiomatically, it is not surprising that a significant amount of axiomatic analysis also takes place in the market design literature. In light of this, one should consider the degree to which axiomatic market design research should mimic the style of work that has been done in mechanism design. In particular we discuss the degree to which the market design literature should emphasize axiomatic characterization results as a primary research objective.

Type

Book Chapter

Author(s)

James Schummer

Date Published

2017

Citations

Schummer, James. 2017. The Role of Characterizations in Market Design.

KELLOGG INSIGHT

Explore leading research and ideas

Find articles, podcast episodes, and videos that spark ideas in lifelong learners, and inspire those looking to advance in their careers.
learn more

COURSE CATALOG

Review Courses & Schedules

Access information about specific courses and their schedules by viewing the interactive course scheduler tool.
LEARN MORE

DEGREE PROGRAMS

Discover the path to your goals

Whether you choose our Full-Time, Part-Time or Executive MBA program, you’ll enjoy the same unparalleled education, exceptional faculty and distinctive culture.
learn more

Take Action