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October 18, 2007

Mechanism Design Theory

I meant to link to this earlier, but over at TAP, the economist John Irons gave a wonderfully clear explanation of "mechanism design theory," which took this year's Nobel prize, and how it's insights relate to the fight against global warming.

October 18, 2007 | Permalink

Comments

Good stuff! It really fills in the gaps between the prevailing belief that "free" markets will always benefit us all, and the numerous pesky realities that interfere with that theoretical scenario.

Posted by: GreenVTster | Oct 18, 2007 1:03:12 PM

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Posted by: peterwei | Oct 21, 2007 11:18:52 PM

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