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Bayesian implementation in exchange economies with state dependent feasible sets and private information

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  • Lu Hong

    (Department of Economics, Syracuse University, 110 Eggers Hall, Syracuse, NY 13244, USA)

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    Abstract

    This paper considers the problem of implementation for exchange economies with state dependent feasible sets. Agents are assumed to have private information about their endowments. We provide necessary and sufficient conditions for social choice rules that are Bayesian implementable by feasible mechanisms for such an environment. We compare our main result to the Nash implementation result derived in an environment of complete information.

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    Bibliographic Info

    Article provided by Springer in its journal Social Choice and Welfare.

    Volume (Year): 13 (1996)
    Issue (Month): 4 ()
    Pages: 433-444

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    Handle: RePEc:spr:sochwe:v:13:y:1996:i:4:p:433-444

    Note: Received: 30 September 1994/Accepted: 16 May 1995
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    Web page: http://link.springer.de/link/service/journals/00355/index.htm

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    Cited by:
    1. Sandro Brusco & Matthew O. Jackson, 1997. "The Optimal Design of a Market," Microeconomics 9711003, EconWPA.
    2. Byungchae Rhee, 2004. "A Characterization of Optimal Feasible Tax Mechanism," Econometric Society 2004 Far Eastern Meetings 551, Econometric Society.
    3. Luis C. Corchon & Matteo Triosi, 2005. "Implementation With State Dependent Feasible Sets And Preferences: A Renegotiation Approach," Economics Working Papers we057136, Universidad Carlos III, Departamento de Economía.
    4. Françoise Forges, 2006. "Feasible Mechanisms in Economies with Type-Dependent Endowments," Social Choice and Welfare, Springer, vol. 26(2), pages 403-419, April.
    5. Jackson, Matthew O., 1999. "A Crash Course in Implementation Theory," Working Papers 1076, California Institute of Technology, Division of the Humanities and Social Sciences.
    6. Hong, Lu, 1998. "Feasible Bayesian Implementation with State Dependent Feasible Sets," Journal of Economic Theory, Elsevier, vol. 80(2), pages 201-221, June.

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