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Throughout modern business history, contract has been used as an organizational technology that holds counterparties in formal or legally binding agreements. The proliferation of contract prompted the emergence of professional contract managers who played an important but relatively peripheral...
Persistent link: https://www.econbiz.de/10010744884
monotonicity condition that is necessary and -- in economic environments -- sufficient for full implementation in ex post …, ex post implementation can be achieved in the direct mechanism. We show by means of two classic examples that ex post … implementation). The single unit auction with interdependent valuations is shown to satisfy ex post monotonicity but not Maskin …
Persistent link: https://www.econbiz.de/10005463973
underlying implementation duality. We show how this duality can be used to obtain a sharpening of the taxation principle, to …
Persistent link: https://www.econbiz.de/10011201348
Although evidence accrues in biology, anthropology and experimental economics that homo sapiens is a cooperative species, the reigning assumption in economic theory is that individuals optimize in an autarkic manner (as in Nash and Walrasian equilibrium). I here postulate a cooperative kind of...
Persistent link: https://www.econbiz.de/10010895664
Although evidence accrues in biology, anthropology and experimental economics that homo sapiens is a cooperative species, the reigning assumption in economic theory is that individuals optimize in an autarkic manner (as in Nash and Walrasian equilibrium). I here postulate an interdependent kind...
Persistent link: https://www.econbiz.de/10010895680
The paper characterises the choice rules that can be implemented when agents are unable to commit themselves not to renegotiate the mechanism.
Persistent link: https://www.econbiz.de/10010745454
benefits also affect member states' implementation of these rules. Using econometric techniques, we estimate the influence of …
Persistent link: https://www.econbiz.de/10010746095
This note studies (full) implementation of social choice functions under complete information in (correlated …) rationalizable strategies. The monotonicity condition shown by Maskin (1999) to be necessary for Nash implementation is also …
Persistent link: https://www.econbiz.de/10004998323
robust implementation. Robust monotonicity is strictly stronger than both Maskin monotonicity (necessary and almost … sufficient for complete information implementation) and ex post monotonicity (necessary and almost sufficient for ex post … implementation). It is equivalent to Bayesian monotonicity on all type spaces. …
Persistent link: https://www.econbiz.de/10005087384
together with strict ex post incentive compatibility is sufficient to guarantee robust implementation in the direct mechanism …. Strict EPIC and the contraction property are also necessary for robust implementation in any mechanism. The contraction …
Persistent link: https://www.econbiz.de/10005087399