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In this chapter, we bring out the importance and current relevance of game theory and mechanism design. The modern era, marked by magnificent advances in information and communication technologies, has created possibilities for fascinating new applications. In many of these applications, the research challenges can be effectively addressed using game theory and mechanism design. In this chapter, we describe a few motivational examples and present several modern research trends that have brought game theory and mechanism design to the forefront.doi:10.1300/j515v09n03_01 fatcat:yth32ntb7jdgvdnyksnw663qke