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A budget-feasible mechanism is a concept often used in economic theory and mechanism design. It refers to a type of mechanism or system that operates within a set budget constraint while still achieving certain objectives, such as efficiency or fairness. In the context of mechanism design, a mechanism refers to a formal structure that facilitates the interaction among participants (like buyers and sellers or agents) to achieve specific outcomes based on their preferences.

Ancestors (6)

  1. Mechanism design
  2. Social choice theory
  3. Applied mathematics
  4. Fields of mathematics
  5. Mathematics
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