Showing 1 - 10 of 101
McAfee and Reny (1992) have given a necessary and sufficient condition for full surplus extraction in models with a continuum of types. We interpret their condition as significantly stronger version of the requirement of injectiveness of the function mapping abstract types into beliefs and prove...
Persistent link: https://www.econbiz.de/10011301240
We study the relation between mechanism design and voting in public-good provision. If incentive mechanisms must satisfy conditions of coalition-proofness and robustness, as well as individual incentive compatibility, the participants' contributions to public-good provision can only depend on...
Persistent link: https://www.econbiz.de/10011305201
In a large economy, a first-best provison rule for a public good is robustly implementable with budget balance because no one individual alone can affect the aggregate outcome. First-best outcomes can, however, be blocked by coalitions of agents acting in concert. With a requirement of immunity...
Persistent link: https://www.econbiz.de/10011334017
Neeman (2004) and Heifetz and Neeman (2006) have shown that, in auctions with incomplete information about payoffs, full surplus extraction is only possible if agents’ beliefs about other agents are fully informative about their own payoff parameters. They argue that the set of...
Persistent link: https://www.econbiz.de/10010230371
We introduce intention-based social preferences into mechanism design. We explore information structures that dier with respect to what is commonly known about the weight that agents attach to reciprocal kindness. When the designer has no information on reciprocity types, implementability of an...
Persistent link: https://www.econbiz.de/10011444226
McAfee and Reny (1992) have given a necessary and sufficient condition for full surplus extraction in naive type spaces with a continuum of payoff types. We generalize their characterization to arbitrary abstract type spaces and to the universal type space and show that in each setting, full...
Persistent link: https://www.econbiz.de/10011604046
We study the relation between mechanism design and voting in public-good provision. If incentive mechanisms must satisfy conditions of coalition-proofness and robustness, as well as individual incentive compatibility, the participants' contributions to public-good provision can only depend on...
Persistent link: https://www.econbiz.de/10011348184
McAfee and Reny (1992) have given a necessary and sufficient condition for full surplus extraction in models with a continuum of types. We interpret their condition as significantly stronger version of the requirement of injectiveness of the function mapping abstract types into beliefs and prove...
Persistent link: https://www.econbiz.de/10011348187
In a large economy, a first-best provison rule for a public good is robustly implementable with budget balance because no one individual alone can affect the aggregate outcome. First-best outcomes can, however, be blocked by coalitions of agents acting in concert. With a requirement of immunity...
Persistent link: https://www.econbiz.de/10011348188
Neeman (2004) and Heifetz and Neeman (2006) have shown that, in auctions with incomplete information about payoffs, full surplus extraction is only possible if agents' beliefs about other agents are fully informative about their own payoff parameters. They argue that the set of...
Persistent link: https://www.econbiz.de/10010334526