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We characterize full implementation of social choice sets in mixed strategy Bayesian equilibrium. Our results concern both exact and virtual mixed implementation. For exact implementation, we identify a strengthening of Bayesian monotonicity, which we refer to as mixed Bayesian monotonicity. It...
Persistent link: https://www.econbiz.de/10008518022
We study information transmission in large interim quasilinear economies using the theory of the core. We concentrate … on the core with respect to equilibrium blocking, a core notion in which information is transmitted endogenously within … which asymmetric information remains as an externality and non-market outcomes stay in the core, as well as those for the …
Persistent link: https://www.econbiz.de/10008518033
information. First, we show that a necessary condition for assymptotically stable implementation is a small variation of (Maskin … necessary and almost sufficient for assymptotically stable implementation. Under incomplete information, incentive compatibility …
Persistent link: https://www.econbiz.de/10005168666