Construct · 1 fields · 1 citations

Myerson-Satterthwaite theorem: a standalone construct

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Game theory

the result that no mechanism for trade between privately informed buyer and seller can be efficient, voluntary and budget balanced at once.

In game theory, Myerson-Satterthwaite theorem refers to the result that no mechanism for trade between privately informed buyer and seller can be efficient, voluntary and budget balanced at once. This meaning comes from Myerson (1983) in Journal of Economic Theory.[1]

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Nearby constructs

game2 fields · 3 citationsjingle · one word, two constructs mechanism4 fields · 4 citationsjingle · one word, four constructs

References

Myerson, R. B., & Satterthwaite, M. A. (1983). Efficient mechanisms for bilateral trading. Journal of Economic Theory, 29(2), 265-281. https://doi.org/10.1016/0022-0531(83)90048-0

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