Economic Design

Economic design involves creating rules, systems, and policies that shape how markets and economies function to achieve desired outcomes, such as efficiency, fairness, or stability. It includes designing mechanisms like auctions, pricing systems, or regulations that ensure resources are allocated effectively while motivating participants to act in ways that support overall goals. Essentially, it’s about thoughtfully constructing economic structures so that individual behaviors lead to beneficial societal results, balancing interests and incentives in a complex economic environment.