Two children are squabbling over how to divide a pie. We need a method to divide the pie fairly. Parents will already know one answer—one child cuts and the second child chooses. The second child will ...
The winners of the 2007 Nobel Memorial Prize in Economics, announced yesterday, are Leonid Hurwicz, Eric Maskin, and Roger Myerson. The three men received the prize for their work on "mechanism design ...
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