ERC Advanced Grant · 2016
Complexity and Simplicity in Economic Mechanisms
As more and more economic activity is moving to the Internet, familiar economic mechanisms are being deployed at unprecedented scales of size, speed, and complexity. In many cases this new complexity becomes the defining feature of the deployed economic mechanism and the quantitative difference becomes a key qualitative one. A well-studied example of such situations is how the humble single-item auction suddenly becomes a billion-times repeated online ad auction, or even becomes a combinatorial auction with exponentially many possible outcomes. Similar complexity explosions occur with various markets, with information dissemination, with pricing structures, and with many other economic…
From the public funding record at EU CORDIS. Describes the funded project, not the reviews below.