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A universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional...
Persistent link: https://www.econbiz.de/10008677116
A universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional...
Persistent link: https://www.econbiz.de/10008854041
This essay is the introduction for a collection of papers by the two of us on "Robust Mechanism Design" to be published by World Scientific Publishing. The appendix of this essay lists the chapters of the book. The objective of this introductory essay is to provide the reader with an overview of...
Persistent link: https://www.econbiz.de/10009251220
This essay provides an introduction to our recent work on robust mechanism design. The objective is to provide an overview of the research agenda and its results. We present the main results and illustrate many of them in terms of a common and canonical example, the single unit auction with...
Persistent link: https://www.econbiz.de/10010693737
This paper analyzes the case of a principal who wants to provide an agent with proper incentives to explore a hypothesis that can be either true or false. The agent can shirk, thus never proving the hypothesis, or he can avail himself of a known technology to produce fake successes. This latter...
Persistent link: https://www.econbiz.de/10011599585
A universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional...
Persistent link: https://www.econbiz.de/10013137661
Truthtelling is often viewed as focal in direct mechanisms. We introduce two new notions of robust implementation based on the premise that society may be composed of "primitive'' agents who, whenever confronted with a strategy profile, anchor to truthtelling and make a limited number of...
Persistent link: https://www.econbiz.de/10012951989
We identify a universal type space of possible interdependent (expected utility) preferences of a group of agents satisfying two criteria. First, a type consists of a "detail free" description, in a natural language, of the agents' interdependent preferences. Second, distinct types in the...
Persistent link: https://www.econbiz.de/10013050649
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/10013019432
We study agents whose expected utility preferences are interdependent for informational or psychological reasons. We characterize when two types can be “strategically distinguished” in the sense that they are guaranteed to behave differently in some finite mechanism. We show that two types...
Persistent link: https://www.econbiz.de/10012984162