Minimalist Market Design

Empowers 'outsider critics' to solve pressing societal challenges by aligning institutional missions with use-inspired economic theory.

For scholars and practitioners aiming to solve societal challenges, this book offers a minimalist framework for institutional reform. It demonstrates how use-inspired theory transforms high-stakes systems-from education to healthcare-by aligning institutional missions with transparent, efficient, equitable and incentive-compatible solutions.In Minimalist Market Design, Tayfun Sönmez offers a history of his approach and methodology, introducing a framework for the 'outsider critic' to drive institutional reform. Drawing on twenty-five years of experience, he formulates how 'use-inspired' theory can correct systemic failures, providing a roadmap for navigating the 'Discovery–Invention Cycles' that lead to both high-impact research and actionable policy. From pioneering kidney and liver exchanges to school choice and optimizing US Army branching; from correcting constitutional failures in India's affirmative action system to navigating pandemic resource rationing, Sönmez effectively illustrates the minimalist approach. Along the way he proves to be an efficient guide, giving the reader an intellectual history, while empowering researchers to transform microeconomic theory into a powerful tool for social justice, healthcare, and public policy. This title is also available as Open Access on Cambridge Core.