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The Role of the Common Prior in Robust Implementation

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  • Dirk Bergemann
  • Stephen Morris

Abstract

We consider the role of the common prior for robust implementation in an environment with interdependent values. Specifically, we investigate a model of public good provision which allows for negative and positive informational externalities. In the corresponding direct mechanism, the agents' reporting strategies are strategic complements with negative informational externalities and strategic substitutes with positive informational externalities. We derive the necessary and sufficient conditions for robust implementation in common prior type spaces and contrast this with our earlier results without the common prior. In the case of strategic complements the necessary and sufficient conditions for robust implementation do not depend on the existence of a common prior. In contrast, with strategic substitutes, the implementation conditions are much weaker under the common prior assumption.

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Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 122247000000001574.

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Date of creation: 24 Sep 2007
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Handle: RePEc:cla:levrem:122247000000001574

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  1. Dirk Bergemann & Stephen Morris, 2007. "Belief Free Incomplete Information Games," Cowles Foundation Discussion Papers 1629, Cowles Foundation for Research in Economics, Yale University.
  2. repec:wop:humbsf:2000-72 is not listed on IDEAS
  3. Robert J. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Working Paper Archive 661465000000000377, David K. Levine.
  4. Dirk Bergemann & Stephen Morris, 2007. "Strategic Distinguishability with an Application to Robust Virtual Implementation," Cowles Foundation Discussion Papers 1609, Cowles Foundation for Research in Economics, Yale University.
  5. P. Battigalli & M. Siniscalchi, 2002. "Rationalization and Incomplete Information," Princeton Economic Theory Working Papers 9817a118e65062903de7c3577, David K. Levine.
  6. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
  7. Dirk Bergemann & Juuso Valimaki, 2002. "Information Acquisition and Efficient Mechanism Design," Econometrica, Econometric Society, vol. 70(3), pages 1007-1033, May.
  8. Brandenburger, Adam & Dekel, Eddie, 1987. "Rationalizability and Correlated Equilibria," Econometrica, Econometric Society, vol. 55(6), pages 1391-1402, November.
  9. FORGES , Françoise, 1993. "Five Legitimate Definitions of Correlated Equilibrium in Games with Incomplete Information," CORE Discussion Papers 1993009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. P. Dasgupta & Eric Maskin, 1998. "Efficient Auctions," Harvard Institute of Economic Research Working Papers 1857, Harvard - Institute of Economic Research.
  11. Abraham Neyman, 1997. "Correlated Equilibrium and Potential Games," International Journal of Game Theory, Springer, vol. 26(2), pages 223-227.
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Cited by:
  1. Oyama, Daisuke & Tercieux, Olivier, 2009. "Iterated potential and robustness of equilibria," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1726-1769, July.
  2. Dirk Bergemann & Stephen Morris, 2009. "Robust Implementation in Direct Mechanisms," Levine's Working Paper Archive 814577000000000109, David K. Levine.

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