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What Problem Are Mechanism Designers Attempting to Overcome When They

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Essay

What problem are mechanism designers attempting to overcome when they "design mechanisms" to provide public goods?


Definitions:

Contract

A legally binding agreement between two or more parties that outlines rights and duties each party is obliged to fulfill.

Duress

A condition wherein a person performs an act as a result of violence, threat, or other pressure against the person.

Non-lawyer

An individual who is not licensed to practice law or offer legal advice.

Undue Influence

An improper or excessive pressure exerted by one person on another in order to coerce that person into a contractual agreement or legal transaction.

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