Happy Pi Day! I have an economics midterm on Wednesday, so here is my attempt at studying. 1. Mechanisms The idea is as follows. We have $latex {N}&fg=000000$ people and a seller who wants to auction off a power drill. The $latex {i}&fg=000000$th person has a private value of at most $latex {\$1000}&fg=000000$ on the… Continue reading Mechanism Design and Revenue Equivalence