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Persistent link: https://www.econbiz.de/10014235289
Consider the following "informational robustness" question: what can we say about the set of outcomes that may arise in equilibrium of a Bayesian game if players may observe some additional information? This set of outcomes will correspond to a solution concept that is weaker than equilibrium,...
Persistent link: https://www.econbiz.de/10014139744
We consider the efficient allocation of a single good with interdependent values in a quasi-linear environment. We present an approach to modelling interdependent preferences distinguishing between "payoff types" and "belief types" and report a characterization of when the efficient allocation...
Persistent link: https://www.econbiz.de/10013112195
The set of outcomes that can arise in Bayes Nash equilibria of an incomplete information game where players may have access to additional signals beyond the given information structure is equivalent to the set of a version of incomplete information correlated equilibrium which we dub Bayes...
Persistent link: https://www.econbiz.de/10014141346
We propose an incomplete information analogue of rationalizability. An action is said to be belief-free rationalizable if it survives the following iterated deletion process. At each stage, we delete actions for a type of a player that are not a best response to some conjecture that puts weight...
Persistent link: https://www.econbiz.de/10014123747
A social choice function is robustly implemented if every equilibrium on every type space achieves outcomes consistent with a social choice function. We identify a robust monotonicity condition that is necessary and (with mild extra assumptions) sufficient for robust implementation. Robust...
Persistent link: https://www.econbiz.de/10014064111
The mechanism design literature assumes too much common knowledge of the environment among the players and planner. We relax this assumption by studying implementation on richer type spaces. We ask when ex post implementation is equivalent to interim (or Bayesian) implementation for all possible...
Persistent link: https://www.econbiz.de/10014071703
The mechanism design literature assumes too much common knowledge of the environment among the players and planner. We relax this assumption by studying implementation on richer type spaces, with more higher order uncertainty. We study the "ex post equivalence" question: When is interim...
Persistent link: https://www.econbiz.de/10014082961
We analyze the problem of fully implementing a social choice set in ex post equilibrium. We identify an ex post monotonicity condition that is necessary and - in economic environments - sufficient for full implementation in ex post equilibrium. We also identify an ex post monotonicity no veto...
Persistent link: https://www.econbiz.de/10014065672
Persistent link: https://www.econbiz.de/10014467488