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Prof. Alex Gershkov, Ph.D.

Hebrew University of Jerusalem

Guest program

CES Visiting Scholar

Contact

LMU Munich
Center for Economic Studies (CES)
Schackstr. 4
80539 Munich, Germany

Room: 121

Visiting period:
30 July - 29 Aug. 2018

Country

Israel

Summary

Mechanism Design

In recent work, Alex Gershkov and his co-authors have analysed different aspects of designing mechanisms in environments in which the designer cannot use monetary transfers as an incentive tool. This is a natural limitation in many economically important situations, including local government decisions regarding public goods provision when the government’s budget is fixed, or regarding a social planner who seeks to allocate available public housing among low-income families. Further applications involve a central bank that uses a committee of experts (monetary council) to determine interest rate changes, an FDA expert panel that contemplates approval of a new drug or a funding agency that considers supporting a limited number of grant applications. Since in the classical mechanism design theory, monetary transfer is the central tool used by the designer, such limitation restricts the set of feasible mechanisms, and poses an obstacle towards implementing many social choice functions. This restriction implies that mechanisms similar to voting, where the use of money is typically frowned upon, move to the forefront and play a central role. Alex Gershkov and his co-authors provide theoretical analyses that combine characterisation of optimal voting rules and judicious agenda setting.

Mr Gershkov is scheduled to give three CES Lectures on “Dynamic Mechanism Design”.

Alex Gershkov has an MA and a PhD in Economics from the Hebrew University of Jerusalem. After a postdoc and junior professor positions at the University of Bonn, he returned to the Hebrew University where he now holds the Dan Patinkin Chair in Economics. Mr Gershkov also holds a part-time position as a Professor of Economics at the University of Surrey. Mr Gershkov’s professional activities include Associate Editor of the International Journal of Game Theory and Editorial Board Member of the Review of Economic Studies.