Market Design: A Linear Programming Approach to Auctions and Matching explores the complexities of designing modern markets in the digital economy. Authored by Martin Bichler and published by Cambridge University Press, this 292-page book, released on December 28, 2017, delves into the engineering field dedicated to crafting market rules that can be implemented in software. The book is essential for understanding how supply meets demand across a variety of goods and services within today’s digital landscape. It highlights the challenges of market design, including strategic behaviors of participants, psychological factors, and computational issues, all while aiming to align with a designer’s objectives.

While traditional economic theories provide foundational insights, this book offers new principles and approaches that extend far beyond conventional theory. Key topics include auctions and matching algorithms, which are crucial for optimizing the allocation of resources in various market contexts. The author employs linear programming techniques to tackle these problems, offering practical solutions and methodologies.

With a focus on real-world applications, this book is ideal for professionals, researchers, and students interested in the intersection of economics, computer science, and operations research. Whether you are a practitioner designing markets or an academic studying the nuances of market engineering, Market Design: A Linear Programming Approach to Auctions and Matching provides valuable insights into creating efficient and effective market systems.