ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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The Theory of Mechanism Design: An Overview

Three US-based economists have been awarded the Nobel Prize for economics for 2007 for laying the foundations of mechanism design theory. A description and discussion of this theory, its importance and the work of the award-winning economists. Mechanism design could help policymaking in a number of areas, one potential area is in drawing up the rules for land acquisition.

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