Technologies That Replace a "Central Planner"
AEA Papers and Proceedings
vol. 113,
May 2023
(pp. 257-62)
Abstract
Contracting possibilities are endogenous to the technologies on which the negotiation and the trading environments are built. Here we review how different technologies allow different implementations of the "central planner" and gradually abstract this centralized role away into the technological environment. We emphasize that the "central planner" construct should no longer remain an abstract invocation in the literature and that it already is concretely deployed to implement optimized solutions to bilateral and multiagent mechanism design problems. We hope to provide methods for economic, business, and policy designers to leverage the right technological tools for the different problems they are facing.Citation
Townsend, Robert M., and Nicolas X. Zhang. 2023. "Technologies That Replace a "Central Planner"." AEA Papers and Proceedings, 113: 257-62. DOI: 10.1257/pandp.20231031Additional Materials
JEL Classification
- D44 Auctions
- D82 Asymmetric and Private Information; Mechanism Design
- D86 Economics of Contract: Theory
- E58 Central Banks and Their Policies
- F31 Foreign Exchange
- F33 International Monetary Arrangements and Institutions