This paper identifies several social-choice correspondences which are or are not fully implementable in economic environments when agents are incompletely informed about the environment. The authors show that in contrast to results in the case of complete information, neither efficient...

For some game theoretic solution concepts, such as dominant strategies, Nash equilibrium, and undominated strategies, only dictatorial social choice functions are implementable on a full domain of preferences with at least three alternatives. For other solution concepts, such as the iterative...

This paper analyzes optimal contracts in an infinitely-repeated agency model in which both the principal and agent discount the future. The authors show that there is a stationary representation of the optimal contract when the agent's c onditional, discounted expected utility is used as a state...