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Mechanism design with multidimensional, continuous types and interdependent valuations

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  • Miller, Nolan H.
  • Pratt, John W.
  • Zeckhauser, Richard J.
  • Johnson, Scott

Abstract

We consider the mechanism design problem when agents' types are multidimensional and continuous, and their valuations are interdependent. If there are at least three agents whose types satisfy a weak correlation condition, then for any decision rule there exist balanced transfers that render truthful revelation a Bayesian ?-equilibrium. A slightly stronger correlation condition ensures balanced transfers exist that induce a Bayesian Nash equilibrium in which agents' strategies are nearly truthful. This paper extends the analysis of KSG RWP03-020.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 136 (2007)
Issue (Month): 1 (September)
Pages: 476-496

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Handle: RePEc:eee:jetheo:v:136:y:2007:i:1:p:476-496

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Web page: http://www.elsevier.com/locate/inca/622869

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  1. Jehiel, Philippe & Moldovanu, Benny, 2001. "Efficient Design with Interdependent Valuations," Econometrica, Econometric Society, vol. 69(5), pages 1237-59, September.
  2. d'Aspremont, Claude & Cremer, Jacques & Gerard-Varet, Louis-Andre, 1990. "Incentives and the existence of Pareto-optimal revelation mechanisms," Journal of Economic Theory, Elsevier, vol. 51(2), pages 233-254, August.
  3. Neeman, Zvika, 2004. "The relevance of private information in mechanism design," Journal of Economic Theory, Elsevier, vol. 117(1), pages 55-77, July.
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  7. Matsushima, Hitoshi, 1991. "Incentive compatible mechanisms with full transferability," Journal of Economic Theory, Elsevier, vol. 54(1), pages 198-203, June.
  8. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer, vol. 18(4), pages 655-708.
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  15. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu & William R. Zame, 2005. "The Limits of Ex-Post Implementation," Levine's Bibliography 666156000000000548, UCLA Department of Economics.
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Cited by:
  1. Papakonstantinou, A. & Bogetoft, P., 2013. "Crowd-sourcing with uncertain quality - an auction approach," MPRA Paper 44236, University Library of Munich, Germany.
  2. Alia Gizatulina & Martin Hellwig, 2009. "Informational Smallness and the Scope for Limiting Information Rents," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2009_28, Max Planck Institute for Research on Collective Goods.

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