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Coalitional Bayesian Nash implementation in differential information economies

In: Differential Information Economies

Author

Listed:
  • Guangsug Hahn

    (Korea Economic Research Institute)

  • Nicholas C. Yannelis

    (University of Illinois)

Abstract

Summary A mechanism coalitionally implements a social choice set if any outcome of the social choice set can be achieved as a coalitional Bayesian Nash equilibrium of a mechanism and vice versa. We say that a social choice set is coalitionally implementable if there is a mechanism which coalitionally implements it. Our main theorem proves that a social choice set is coalitionally implementable if and only if it is interim individually rational, interim efficient, coalitional Bayesian incentive compatible, and satisfies a coalitional Bayesian monotonicity condition as well as a closure condition. As an application of our main result, we show that the private core and the private Shapley value of an economy with differential information are coalitionally implementable.

Suggested Citation

  • Guangsug Hahn & Nicholas C. Yannelis, 2005. "Coalitional Bayesian Nash implementation in differential information economies," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 567-591, Springer.
    • Handle: RePEc:spr:steccp:978-3-540-26979-3_30
    DOI: 10.1007/3-540-26979-7_30
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