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Ex post implementation in environments with private goods

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  • Bikhchandani, Sushil

    ()
    (University of California, Los Angeless)

Abstract

We prove by construction that ex post incentive compatible mechanisms exist in a private goods setting with multi-dimensional signals and interdependent values. The mechanism shares features with the generalized Vickrey auction of one-dimensional signal models. The construction implies that for environments with private goods, informational externalities (i.e., interdependent values) are compatible with ex post equilibrium in the presence of multi-dimensional signals.

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File URL: http://econtheory.org/ojs/index.php/te/article/viewFile/20060369/794/33
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Bibliographic Info

Article provided by Econometric Society in its journal Theoretical Economics.

Volume (Year): 1 (2006)
Issue (Month): 3 (September)
Pages: 369-393

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Handle: RePEc:the:publsh:182

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Web page: http://econtheory.org

Related research

Keywords: Ex post incentive compatibility; multi-dimensional information; interdependent values;

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Cited by:
  1. Bergemann, Dirk & Morris, Stephen, 2008. "Ex post implementation," Games and Economic Behavior, Elsevier, vol. 63(2), pages 527-566, July.
  2. Vlad Mares & Mikhael Shor, 2013. "Information concentration in common value environments," Review of Economic Design, Springer, vol. 17(3), pages 183-203, September.
  3. Dirk Bergemann & Stephen Morris, 2009. "Robust Implementation in Direct Mechanisms," Levine's Working Paper Archive 814577000000000109, David K. Levine.
  4. Jehiel, Philippe & Meyer-ter-Vehn, Moritz & Moldovanu, Benny, 2012. "Locally robust implementation and its limits," Journal of Economic Theory, Elsevier, vol. 147(6), pages 2439-2452.
  5. Alejandro Francetich, 2013. "Becoming the Neighbor Bidder: Endogenous Winner’s Curse in Dynamic Mechanisms," Working Papers 501, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  6. Meyer-ter-Vehn, Moritz & Morris, Stephen, 2011. "The robustness of robust implementation," Journal of Economic Theory, Elsevier, vol. 146(5), pages 2093-2104, September.
  7. M. Bumin Yenmez, 2009. "Incentive Compatible Market Design with Applications," GSIA Working Papers 2013-E21, Carnegie Mellon University, Tepper School of Business.

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