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The Limits of ex post Implementation

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Author Info
Philippe Jehiel
Moritz Meyer-ter-Vehn
Benny Moldovanu
William R. Zame

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Abstract

The sensitivity of Bayesian implementation to agents' beliefs about others suggests the use of more robust notions of implementation such as ex post implementation, which requires that each agent's strategy be optimal for every possible realization of the types of other agents. We show that the only deterministic social choice functions that are ex post implementable in generic mechanism design frameworks with multidimensional signals, interdependent valuations, and transferable utilities are constant functions. In other words, deterministic ex post implementation requires that the same alternative must be chosen irrespective of agents' signals. The proof shows that ex post implementability of a nontrivial deterministic social choice function implies that certain rates of information substitution coincide for all agents. This condition amounts to a system of differential equations that are not satisfied by generic valuation functions. Copyright The Econometric Society 2006.

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File URL: http://hdl.handle.net/10.1111/j.1468-0262.2006.00675.x
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Publisher Info
Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 74 (2006)
Issue (Month): 3 (05)
Pages: 585-610
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Handle: RePEc:ecm:emetrp:v:74:y:2006:i:3:p:585-610

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jeffrey C. Ely & Kim-Sau Chung, 2004. "Foundations of Dominant Strategy Mechanisms," Econometric Society 2004 North American Summer Meetings 169, Econometric Society. [Downloadable!]
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  2. Richard McLean & Andrew Postlewaite, 2002. "Informational Size and Efficient Auctions," PIER Working Paper Archive 03-011, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 13 Apr 2003. [Downloadable!]
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  3. 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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  4. Dirk Bergemann & Stephen Morris, 2003. "Robust Mechanism Design," Cowles Foundation Discussion Papers 1421R, Cowles Foundation, Yale University, revised Apr 2004. [Downloadable!]
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  5. Jeffrey C. Ely & Kim-Sau Chung, 2002. "Ex-Post Incentive Compatible Mechanism Design," Discussion Papers 1339, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  6. repec:bep:theadv:v:1:y:2001:i:advances/1/1:p:1003-1003 is not listed on IDEAS
  7. 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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  8. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-31, July. [Downloadable!] (restricted)
  9. Eric Maskin, 2001. "Auctions and Efficiency," Economics Working Papers 0002, Institute for Advanced Study, School of Social Science. [Downloadable!]
  10. Satterthwaite, Mark Allen, 1975. "Strategy-proofness and Arrow's conditions: Existence and correspondence theorems for voting procedures and social welfare functions," Journal of Economic Theory, Elsevier, vol. 10(2), pages 187-217, April. [Downloadable!] (restricted)
  11. Sushil Bikhchandani, 2004. "The Limits of Ex Post Implementation Revisited," Levine's Bibliography 122247000000000514, UCLA Department of Economics. [Downloadable!]
  12. Dasgupta, Partha S & Hammond, Peter J & Maskin, Eric S, 1979. "The Implementation of Social Choice Rules: Some General Results on Incentive Compatibility," Review of Economic Studies, Blackwell Publishing, vol. 46(2), pages 185-216, April. [Downloadable!] (restricted)
  13. Ledyard, John O., 1978. "Incentive compatibility and incomplete information," Journal of Economic Theory, Elsevier, vol. 18(1), pages 171-189, June. [Downloadable!] (restricted)
  14. Motty Perry & Philip J. Reny, 2002. "An Efficient Auction," Econometrica, Econometric Society, vol. 70(3), pages 1199-1212, May. [Downloadable!] (restricted)
  15. Jehiel, Philippe & Moldovanu, Benny, 2001. "Efficient Design with Interdependent Valuations," Econometrica, Econometric Society, vol. 69(5), pages 1237-59, September.
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Dirk Bergemann & Stephen Morris, 2006. "Robust Implementation: The Case of Direct Mechanisms," Levine's Bibliography 122247000000001194, UCLA Department of Economics. [Downloadable!]
    Other versions:
  2. Richard P. McLean & Andrew Postlewaite, 2006. "Implementation with Interdependent Valuations," Levine's Bibliography 122247000000001242, UCLA Department of Economics. [Downloadable!]
    Other versions:
  3. Georgy Artemov & Takashi Kunimoto & Roberto Serrano, 2007. "Robust virtual implementation with incomplete information: Towards a reinterpretation of the Wilson doctrine," Working Papers 2007-14, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales. [Downloadable!]
    Other versions:
  4. Bergemann, Dirk & Stephen Morris, 2006. "Robust Implementation in Direct Mechanisms," Cowles Foundation Discussion Papers 1561RR, Cowles Foundation, Yale University, revised Jan 2009. [Downloadable!]
    Other versions:
  5. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu & William R. Zame, 2005. "Posterior Implementation versus Ex-Post Implementation," Levine's Bibliography 666156000000000556, UCLA Department of Economics. [Downloadable!]
    Other versions:
  6. Barry O'Neill, 2006. "Nuclear Weapons and National Prestige," Cowles Foundation Discussion Papers 1560, Cowles Foundation, Yale University. [Downloadable!]
  7. Dirk Bergemann & Stephen Morris, 2003. "Robust Mechanism Design," Cowles Foundation Discussion Papers 1421R, Cowles Foundation, Yale University, revised Apr 2004. [Downloadable!]
    Other versions:
  8. Dirk Bergemann & Stephen Morris, 2007. "Robust Virtual Implementation," Cowles Foundation Discussion Papers 1609RR, Cowles Foundation, Yale University, revised Jan 2009. [Downloadable!]
    Other versions:
  9. David A. Miller, 2005. "The dynamic cost of ex post incentive compatibility in repeated games of private information," Game Theory and Information 0510002, EconWPA. [Downloadable!]
  10. Benjamin Edelman & Michael Ostrovsky & Michael Schwarz, 2005. "Internet Advertising and the Generalized Second Price Auction: Selling Billions of Dollars Worth of Keywords," NBER Working Papers 11765, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  11. MISHRA, Debasis & PARKES, David C., 2005. "Ascending price Vickrey auctions for general valuations," CORE Discussion Papers 2005052, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
  12. Philippe Jehiel & Benny Moldovanu, 2005. "Allocative and Informational Externalities in Auctions and Related Mechanisms," Discussion Papers 142, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
    Other versions:
  13. Dirk Bergemann & Stephen Morris, 2006. "Ex Post Implementation," Levine's Bibliography 122247000000001110, UCLA Department of Economics. [Downloadable!]
    Other versions:
  14. Sushil Bikhchandani & Shurojit Chatterjee & Arunava Sen, 2004. "Incentive Compatibility in Multi-unit Auctions," Levine's Bibliography 122247000000000750, UCLA Department of Economics. [Downloadable!]
  15. Miller, Nolan & Pratt, John H. & Zeckhauser, Richard & Johnson, Scott, 2006. "Mechanism Design with Multidimensional, Continuous Types and Interdependent Valuations," Working Paper Series rwp06-028, Harvard University, John F. Kennedy School of Government. [Downloadable!]
    Other versions:
  16. Moreira, Humberto Luiz Ataide & Araújo, Aloísio Pessoa de & Castro Filho, Luciano I. de Castro Filho, 2004. "Pure strategy equilibria of multidimensional and Non-monotonic auctions," Economics Working Papers (Ensaios Economicos da EPGE) 571, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]
  17. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu, 2008. "Ex-post implementation and preference aggregation via potentials," Economic Theory, Springer, vol. 37(3), pages 469-490, December. [Downloadable!] (restricted)
  18. Sushil Bikhchandani, 2004. "The Limits of Ex Post Implementation Revisited," Levine's Bibliography 122247000000000514, UCLA Department of Economics. [Downloadable!]
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