Hard Evidence and Mechanism Design
AbstractThis paper addresses how hard evidence can be incorporated intomechanismdesign analysis. Two classes of models are compared: (a) ones in which evidentiary decisions are accounted for explicitly, and (b) ones in which the players make abstract declarations of their types. Conditions are provided under which versions of these models are equivalent. The paper also addresses whether dynamic mechanisms are required for Nash implementation in settings with hard evidence. The paper shows that static mechanisms suffice in the setting of â€œevidentiary normalityâ€ and that, in a more general environment, one can restrict attention to a class of three-stage dynamic mechanisms.
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Bibliographic InfoPaper provided by Department of Economics, UC San Diego in its series University of California at San Diego, Economics Working Paper Series with number qt7973v805.
Date of creation: 01 Feb 2006
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contract; mechanism design; hard evidence; verifiability; revelation principle; static mechanisms; dynamic mechanisms;
Other versions of this item:
- Bull, Jesse & Watson, Joel, 2002. "Hard Evidence and Mechanism Design," University of California at San Diego, Economics Working Paper Series qt7715f08f, Department of Economics, UC San Diego.
- Joel Watson & Jesse Bull, 2004. "Hard Evidence and Mechanism Design," Econometric Society 2004 North American Winter Meetings 433, Econometric Society.
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
- K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
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