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We explore the notion of "verifiability" by analyzing a simple model of evidence production in contractual relationships with complete information. We characterize implementability in terms of the existence and form of "hard evidence." We provide results on maximal and minimal evidence...
Persistent link: https://www.econbiz.de/10010536354
We explore the conceptual basis of "verifiability" by explicitly modeling the process of evidence production in contractual relationships of complete information. Evidence is represented by documents, on the submission of which an enforcement authority conditions transfers between the...
Persistent link: https://www.econbiz.de/10010536366
In this short paper, we show how hard evidence can be incorporated into the mechanism-design framework. We model the parties' inalienable decisions (evidence production) as distinct from an arbitrarily-designed message form. A mechanism specifies the message form and how the public decision is a...
Persistent link: https://www.econbiz.de/10010536403
This paper addresses how hard evidence can be incorporated intomechanismdesign analysis. Two classes of models are compared: (a) ones in which evidentiary decisions are accounted for explicitly, and (b) ones in which the players make abstract declarations of their types. Conditions are provided...
Persistent link: https://www.econbiz.de/10010536459