On Informationally Decentralized Systems.¶
Marschak, J., McGuire, C. B., Radner, R., & Arrow, K. J. (1972). On Informationally Decentralized Systems. Decision and Organization: A Volume in Honor of Jacob Marschak.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Incentive Compatibility
- names the design property that (1) a mechanism, rule, contract, or institution is incentive-compatible when (2) each participant, acting to maximize their own private payoff, (3) finds that their best response is also the action the designer wanted them to take — most importantly, truthfully revealing their private information or choosing the socially desired behavior — so that (4) no costly monitoring, enforcement, or exhortation is required beyond the mechanism's native structure.
This sourceIntroduced the term incentive compatibility and formalized the strategic-information-transmission problem under decentralization.
- names the design property that (1) a mechanism, rule, contract, or institution is incentive-compatible when (2) each participant, acting to maximize their own private payoff, (3) finds that their best response is also the action the designer wanted them to take — most importantly, truthfully revealing their private information or choosing the socially desired behavior — so that (4) no costly monitoring, enforcement, or exhortation is required beyond the mechanism's native structure.
- Mechanism Design
- The foundational formal instance is Leonid Hurwicz's 1960 paper Optimality and Informational Efficiency in Resource Allocation Processes and his 1972 On Informationally Decentralized Systems,
This sourceIntroduced the term incentive compatibility and formalized the strategic-information-transmission problem under decentralization.
- The foundational formal instance is Leonid Hurwicz's 1960 paper Optimality and Informational Efficiency in Resource Allocation Processes and his 1972 On Informationally Decentralized Systems,
Verification¶
Does it exist? Not checked yet. This entry carries no identifier to resolve. It was extracted from the citation as written in the article, normalized, and deduplicated against the rest of the registry.
Does it back the claim? Not recorded. Neither this nor any other of the 2 citations of this work carries a recorded support check.
Was it audited? Yes. A second, independent pass read the citation against the article text and recorded a verdict.
Support is checked per citation rather than per work — the same source can be cited soundly in one article and wrongly in another. Per-citation recording began recently, so a citation with no recorded check is a gap in the record rather than evidence it went unchecked.
See how references were verified.
Registry ID ref:80326cf6958e · see in the full table