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-post efficiency. In contrast, with common values, ex-ante and ex-post efficiency cannot be reconciled in general. Sufficient …
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every private value environment the Vickrey-roves-Clark mechanism guarantees both ex-ante as well as ex-post efficiency. In … contrast, with common values, ex-ante and ex-post efficiency cannot be reconciled in general. Sufficient conditions in terms of …
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generalized VCG mechanism, therefore, serves to unify many results in mechansim design theory …
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This paper studies Bayesian efficient mechanism design in environments where agents' utility depend on the chosen alternative even if they do not participate. A VCG mechanism maximizes the expected revenue of the planner among efficient mechanisms that induce the truthful participation of all...
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This paper has for aim to revisit or to give some insights to the Morellec and Schürhoff (2011) dynamic real option investment model in a world in which firms are compelled to raise outside funds from uninformed investors to finance a total investment outlay. These authors determined a unique...
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