Market design

Auction theory: It is the branch of game theory that deals with designing mechanisms for auctions, including bidder behavior, auction formats, and seller revenue maximization.

Matching theory: It deals with designing mechanisms for matching two or more groups, such as students and schools or doctors and patients, by considering the preferences of both groups.

Mechanism design: It is the process of designing systems that encourage efficient and fair outcomes. This includes designing rules, procedures, and incentives that induce players to behave in a desired way.

Social choice theory: It deals with the aggregation of individual preferences into a collective decision. It considers various voting mechanisms and their properties, such as fairness, stability, and strategy-proofness.

Market structure: It helps understand how markets are organized and how they affect the pricing, quality, and quantity of goods and services. It includes topics such as competition, monopolies, oligopolies, and regulatory policies.

Game theory: It is the study of strategic interactions among individuals or groups, where the outcome of each decision depends not only on one's own action but also on the actions of others.

Information economics: It looks at how information asymmetry affects the behavior of economic agents in markets. It includes topics such as adverse selection, signaling, and moral hazard.

Industrial organization: It is concerned with the behavior of firms in markets, including their pricing strategies, product differentiation, and entry barriers.

Behavioral economics: It examines how psychological and social factors affect economic decision-making. It includes topics such as decision-making biases, heuristics, and social preferences.

Econometrics: It applies statistical methods to economic data to test economic theories, to forecast future economic trends, and to estimate the effect of policy interventions.

Auction: This is a mechanism where prices of goods are determined through bidding. In an auction system, sellers offer a good or service for sale and potential buyers then compete for it through successive rounds of bidding.

Exchange: This is a type of market design in which buyers and sellers come together to exchange goods or services. Examples of exchanges include stock markets, commodities markets, and foreign currency exchanges.

Posted Price System: Under this system, the sellers establish a fixed price for their goods or services, and the buyers can choose to buy or not at that price.

Vickrey-Clarke-Groves Mechanisms: This is a special type of auction mechanism used mainly for public goods. The winner pays the second-highest bid, and the sellers benefit from the auction, so they can better price the product.

Double Auctions: In this type of mechanism, both buyers and sellers submit their prices and quantities, and the system automatically matches them up.

Bundle Auctions: Bundle auction is a type of auction where a package of goods or services is sold together. In bundle auction, the bidders are bidding for the complete package rather than individual goods or services.

Reverse Auctions: Reverse auctions are when buyers offer their own price to sellers for goods or services. The sellers then compete to sell their goods or services at the lowest price.

Matching Mechanisms: These mechanisms are used when buyers and sellers have to be matched to complete a transaction. A common example is a dating website, where matches are made based on specific criteria.