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Persistent link: https://www.econbiz.de/10009572165
constraint in implementation and all incentive compatible social choice functions are Bayesian implementable. In contrast to the …
Persistent link: https://www.econbiz.de/10012503049
We derive several implications of incentive compatibility in general (i.e., not necessarily quasilinear) environments. Building on Kos and Messner (2013), we provide a (partial) characterization of incentive compatible mechanisms.
Persistent link: https://www.econbiz.de/10010702790
constraint in implementation and all incentive compatible social choice functions are Bayesian implementable. In contrast to the …
Persistent link: https://www.econbiz.de/10011096879
Persistent link: https://www.econbiz.de/10011385791
We consider the implementation of social choice functions under complete information in rationalizable strategies. A … concept of rationalizability. Assuming the social choice function is responsive (i.e., it never selects the same outcome in …
Persistent link: https://www.econbiz.de/10008476247
This note studies (full) implementation of social choice functions under complete information in (correlated …) rationalizable strategies. The monotonicity condition shown by Maskin (1999) to be necessary for Nash implementation is also …
Persistent link: https://www.econbiz.de/10004998323
In most implementation frameworks, agents care only about the outcome and not at all about the way in which it was … obtained. Additionally, typical mechanisms for full implementation involve the complete revelation of all private information … to the planner. In this paper I consider the problem of full implementation with agents who may prefer to protect their …
Persistent link: https://www.econbiz.de/10009718302
We show that a rational expectations equilibrium need not be incentive compatible, need not be implementable as a perfect Bayesian equilibrium and may not be fully Pareto optimal, unless the utility functions are state independent. A comparison of rational expectations equilibria with core...
Persistent link: https://www.econbiz.de/10005704188
We consider full implementation in complete-information environments when agents have an arbitrarily small preference …
Persistent link: https://www.econbiz.de/10010738055