Public Release:  How do you realize social goals in a society consisting of self-interested individuals?

World Scientific


IMAGE: This is the latest book on Game Theory and Mechanism Design, foreword by Nobel Prize of Economics Science Professor Eric Maskin. view more

Credit: World Scientific Publishing, 2014

How do you realize social goals in a modern society consisting of self-interested individuals?

This is a question that faces all social planners and organizations all the time. If we solve this problem satisfactorily, it has far-reaching implications for not only creating robust sociological institutions but also for solving numerous modern economics and computer science problems such as electronic commerce, online auctions, public procurements, Internet advertising, social network monetization, crowdsourcing, intelligent transportation, and cyber-physical systems.

A perfect answer to this question is still elusive, however the discipline of game theory and mechanism design has enabled significant strides to be made in this direction. Game theory deals with analysis of interactions among multiple self-interested entities while mechanism design provides a framework for designing robust solutions to economic and engineering problems involving such selfish agents. The 2005, 2007, and 2012 Nobel prizes in Economic Sciences have duly recognized the deep influence game theory and mechanism design have on modern applications involving rational and intelligent entities.

Currently, there are many classic textbooks available on game theory with focus on economics and traditional topics. This current textbook from Y. Narahari is perhaps the first book that treats game theory as well as mechanism design and focuses exclusively on engineering, computer science, and web applications in the modern era.

Commenting on the book, Nobel Laureate in Economic Sciences Professor Eric Maskin, said, "Today, game theory and mechanism design are at the center of economic theory and have become an important part of engineering disciplines such as computer science and electronic commerce. I am very pleased that Y. Narahari has written this lovely text, which presents the fundamentals of game theory and mechanism design clearly and concisely. In doing so, Dr. Narahari has performed a great service to students and researchers interested in the lively interface between engineering sciences and economics."

The book is rich in contemporary examples and apt exercises, and couples historical appraisals of contributions of legendary game theorists with rigorous mathematical proofs. It provides a balanced treatment of non-cooperative game theory and cooperative game theory, and provides a comprehensive from-first-principles coverage of mechanism design as well. The book targets students of engineering disciplines such as computer science, electrical sciences, and industrial engineering, from senior undergraduate to doctoral students. It is a valuable reference for researchers from across disciplines interested in modern applications at the intersection of economics and engineering sciences.


More information about the present book can be found at

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