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Robust Implementation in Direct Mechanisms

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Author Info
DIRK BERGEMANN
STEPHEN MORRIS

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Abstract

A social choice function is robustly implementable if there is a mechanism under which the process of iteratively eliminating strictly dominated messages lead to outcomes that agree with the social choice function for all beliefs at every type profile. In an interdependent-value environment with single-crossing preferences, we identify a contraction property on the preferences which together with strict "ex post" incentive compatibility is sufficient to guarantee robust implementation in the direct mechanism. Strict "ex post" incentive compatibility and the contraction property are also necessary for robust implementation in "any" mechanism, including indirect ones. The contraction property requires that the interdependence is not too high. In a linear signal model, the contraction property is equivalent to an interdependence matrix having all eigenvalues smaller than one. Copyright Copyright © 2009 The Review of Economic Studies Limited.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-937X.2009.00553.x
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Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 76 (2009)
Issue (Month): 4 (October)
Pages: 1175-1204
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Handle: RePEc:bla:restud:v:76:y:2009:i:4:p:1175-1204

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  1. Palfrey, Thomas R & Srivastava, Sanjay, 1989. "Implementation with Incomplete Information in Exchange Economies," Econometrica, Econometric Society, vol. 57(1), pages 115-34, January. [Downloadable!] (restricted)
  2. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June. [Downloadable!] (restricted)
  3. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November. [Downloadable!] (restricted)
  4. Piketty, Thomas, 1999. "The information-aggregation approach to political institutions," European Economic Review, Elsevier, vol. 43(4-6), pages 791-800, April. [Downloadable!] (restricted)
  5. Bikhchandani, Sushil, 2006. "Ex post implementation in environments with private goods," Theoretical Economics, Society for Economic Theory, vol. 1(3), pages 369-393, September. [Downloadable!]
  6. Partha Dasgupta & Eric Maskin, 2000. "Efficient Auctions," The Quarterly Journal of Economics, MIT Press, vol. 115(2), pages 341-388, May. [Downloadable!] (restricted)
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  7. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu & William R. Zame, 2006. "The Limits of ex post Implementation," Econometrica, Econometric Society, vol. 74(3), pages 585-610, 05. [Downloadable!] (restricted)
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  8. Fieseler, Karsten & Kittsteiner, Thomas & Moldovanu, Benny, 2003. "Partnerships, lemons, and efficient trade," Journal of Economic Theory, Elsevier, vol. 113(2), pages 223-234, December. [Downloadable!] (restricted)
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  9. Dirk Bergemann & Stephen Morris, 2007. "Strategic Distinguishability and Robust Virtual Implementation," Cowles Foundation Discussion Papers 1609R, Cowles Foundation, Yale University, revised Apr 2008. [Downloadable!]
  10. Bernheim, B Douglas, 1984. "Rationalizable Strategic Behavior," Econometrica, Econometric Society, vol. 52(4), pages 1007-28, July. [Downloadable!] (restricted)
  11. Dirk Bergemann & Juuso Valimaki, 2002. "Information Acquisition and Efficient Mechanism Design," Econometrica, Econometric Society, vol. 70(3), pages 1007-1033, May. [Downloadable!] (restricted)
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  12. Dirk Bergemann & Stephen Morris, 2007. "An Ascending Auction for Interdependent Values: Uniqueness and Robustness to Strategic Uncertainty," Levine's Bibliography 321307000000001000, UCLA Department of Economics. [Downloadable!]
  13. Pearce, David G, 1984. "Rationalizable Strategic Behavior and the Problem of Perfection," Econometrica, Econometric Society, vol. 52(4), pages 1029-50, July. [Downloadable!] (restricted)
  14. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March. [Downloadable!] (restricted)
  15. Pierpaolo Battigalli & Marciano Siniscalchi, 2003. "Rationalization and Incomplete Information," The B.E. Journal of Theoretical Economics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
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  16. Hong, Han & Shum, Matthew, 2003. "Econometric models of asymmetric ascending auctions," Journal of Econometrics, Elsevier, vol. 112(2), pages 327-358, February. [Downloadable!] (restricted)
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  17. Dirk Bergemann & Stephen Morris, 2008. "The Role of the Common Prior in Robust Implementation," Journal of the European Economic Association, MIT Press, vol. 6(2-3), pages 551-559, 04-05. [Downloadable!] (restricted)
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  18. Brandenburger, Adam & Dekel, Eddie, 1987. "Rationalizability and Correlated Equilibria," Econometrica, Econometric Society, vol. 55(6), pages 1391-1402, November. [Downloadable!] (restricted)
  19. Weinstein, Jonathan & Yildiz, Muhamet, 2007. "Impact of higher-order uncertainty," Games and Economic Behavior, Elsevier, vol. 60(1), pages 200-212, July. [Downloadable!] (restricted)
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