Mechanisms in a Digitalized World
CESifo, Munich, 2018
CESifo Working Paper No. 6984
Due to computing and communication facilities, formal procedures, often referred to as ‘algorithms’, are now extensively used in public, economic and social areas. These procedures, currently at the forefront of criticisms, share some features with mechanisms as defined by economists, following Hurwicz. My aim is to investigate these relationships and to discuss some of the economic risks generated by the power of algorithms.
Economics of Digitization
Empirical and Theoretical Methods