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We develop a novel geometric approach to mechanism design using an important result in convex analysis: the duality between a closed convex set and its support function. By deriving the support function for the set of feasible interim values we extend the well known...
Persistent link: https://www.econbiz.de/10013091929
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An important result in convex analysis is the duality between a closed convex set and its support function. We exploit this duality to develop a novel geometric approach to mechanism design. For a general class of social choice problems we characterize the feasible set, which is closed and...
Persistent link: https://www.econbiz.de/10009741027
We consider a standard social choice environment with linear utilities and independent, one-dimensional, private values. We provide a short and constructive proof that for any Bayesian incentive compatible mechanism there exists an equivalent dominant strategy incentive compatible mechanism that...
Persistent link: https://www.econbiz.de/10014179587
Persistent link: https://www.econbiz.de/10009491243
We consider a standard social choice environment with linear utilities and independent, one-dimensional, private values. We provide a short and constructive proof that for any Bayesian incentive compatible mechanism there exists an equivalent dominant strategy incentive compatible mechanism that...
Persistent link: https://www.econbiz.de/10009739162
Persistent link: https://www.econbiz.de/10009719107
We consider a standard social choice environment with linear utilities and independent, one-dimensional, private types. We prove that for any Bayesian incentive compatible mechanism there exists an equivalent dominant strategy incentive compatible mechanism that delivers the same interim...
Persistent link: https://www.econbiz.de/10012866267
Persistent link: https://www.econbiz.de/10000913117