A publication from the ids lab has been featured on the front cover of the ieee control systems magazine
The IDS Lab’s publication entitled “Mechanism Design Theory in Control Engineering: A tutorial and Overview of Application in Communication, Power Grid, Transportation, and Security Systems, Chremos, I.V. and Malikopoulos, A.A.,” has been featured on the front cover of the IEEE Control Systems Magazine.
In this article, we provide the fundamental principles of mechanism design theory for control engineers and theorists, along with state-of-the-art methods in engineering applications. Our objectives are 1) to provide a tutorial on the theory of mechanism design and 2) to present how the theory of mechanism design can yield solutions to engineering problems. Mechanism design provides a powerful theoretical framework for solving objective-first and information-elicitation problems. Although mechanism design originates from economics, primarily aiming to align individual and system-wide economic interests, it has applications in various engineering fields. The future challenge lies in developing dynamic, robust, and computationally tractable mechanisms, especially in dynamic and unpredictable engineering control problems. We start our exposition by providing a brief overview of key notions of game theory. Next, we offer the general framework and fundamental principles of mechanism design. Then, we provide mechanism design problem formulations of different engineering applications. Finally, we offer some concluding remarks and a discussion of the future of mechanism design in control engineering. The full article can be found here.