Showing 31 - 40 of 40,625
We assess the strength of the different conditions identified in the literature of robust mechanism design. We focus on three conditions: ex post incentive compatibility, robust monotonicity, and robust measurability. Ex post incentive compatibility has been shown to be necessary for any concept...
Persistent link: https://www.econbiz.de/10008669301
In de Clippel, Saran, and Serrano (2019), it is shown that, perhaps surprisingly, the set of implementable social choice functions is essentially the same whether agents have bounded depth of reasoning or rational expectations. The picture is quite different when taking into account the...
Persistent link: https://www.econbiz.de/10013236973
Models of choice where agents see others as less sophisticated than themselves have significantly different, sometimes more accurate, predictions in games than does Nash equilibrium. When it comes to mechanism design, however, they turn out to have surprisingly similar implications. This paper...
Persistent link: https://www.econbiz.de/10012985772
We say that a society has a weak norm against lying if, all other things being equal, agents rather lie in such a way that they do not get caught. We show that if this is the case then all incentive compatible social choice functions are Bayesian implementable, and furthermore, implementation...
Persistent link: https://www.econbiz.de/10014148091
This paper introduces a mechanism design approach that allows dealing with the multiple equilibrium problem, using mechanisms that are robust to bounded rationality. This approach is a tool for constructing supermodular mechanisms, i.e. mechanisms that induce games with strategic...
Persistent link: https://www.econbiz.de/10011695244
Often preferences are such that any sensible goal must admit a tie between all alternatives. The standard formulation in mechanism design stipulates that in this case all alternatives must be equilibrium outcomes of the decision making mechanism. However, as far as the idea of an equilibrium is...
Persistent link: https://www.econbiz.de/10012969342
We study mechanisms for environments in which only some of the agents are directly connected to a mechanism designer and the other agents can participate in a mechanism only through the connected agents' referrals. In such environments, the mechanism designer and agents may have different...
Persistent link: https://www.econbiz.de/10012954132
Different evaluators typically disagree how to rank different candidates since they care more or less for the various qualities of the candidates. It is assumed that all evaluators submit vector bids assigning a monetary bid for each possible rank order. The rules must specify for all possible...
Persistent link: https://www.econbiz.de/10008991294
This paper considers mechanism design problems in environments with ambiguity-sensitive individuals. The novel idea of the paper is to introduce ambiguity in mechanisms so as to exploit the ambiguity sensitivity of individuals. We prove a revelation principle for the partial implementation of...
Persistent link: https://www.econbiz.de/10013123537
We generalize the canonical problem of Nash implementation by allowing agents to voluntarily provide discriminatory signals, i.e. evidence. Evidence can either take the form of hard information or, more generally, have differential but non-prohibitive costs in different states. In such...
Persistent link: https://www.econbiz.de/10011690726