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Information in Mechanism Design

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Author Info
Dirk Bergemann () (Cowles Foundation, Yale University)
Juuso Valimaki (Dept. of Economics, Helsinki School of Economics, University of Southampton)

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Abstract

We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We specifically consider information management in the form of acquisition of new information or disclosure of existing information. Second, we argue that in the presence of endogenous information, the robustness of the mechanism to the type space and higher order beliefs becomes a natural desideratum. We discuss recent approaches to robust mechanism design and robust implementation.

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File URL: http://cowles.econ.yale.edu/P/cd/d15a/d1532-r.pdf
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Publisher Info
Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 1532R.

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Length: 42 pages
Date of creation: Aug 2005
Date of revision: Jan 2006
Publication status: Published in Blundell, Newey and Persson, eds., Proceedings of the 9th World Congress of the Econometric Society, Cambridge University Press, 2006, pp. 186-221
Handle: RePEc:cwl:cwldpp:1532r

Note: CFP 1208
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Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
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Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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Related research
Keywords: Mechanism Design; Information Acquisition; Ex Post Equilibrium; Robust Mechanism Design; Interdependent Values; Information Management;

Other versions of this item:

Find related papers by JEL classification:
C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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  1. Crémer, Jacques & Spiegel, Yossi & Zheng, Charles, 2005. "Optimal Search Auctions," IDEI Working Papers 293, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
    Other versions:
  2. Vasiliki Skreta, 2007. "On the Informed Seller Problem: Optimal Information Disclosure," Levine's Bibliography 843644000000000222, UCLA Department of Economics. [Downloadable!]
  3. Inderst, Roman & Peitz, Martin, 2008. "Selling Service Plans to Differentially Informed Customers," ZEW Discussion Papers 08-125, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  4. Jingfeng Lu, 2009. "Why a Simple Second-Price Auction Induces Efficient Endogenous Entry," Theory and Decision, Springer, vol. 66(2), pages 181-198, February. [Downloadable!] (restricted)
  5. Vasiliki Skreta, 2007. "On the Informed Seller Problem: Optimal Information Disclosure," Levine's Bibliography 122247000000001789, UCLA Department of Economics. [Downloadable!]
  6. Cremer, Jaques & Spiegel, Yossi & Zheng, Charles, 2006. "Optimal Search Auctions," Staff General Research Papers 12662, Iowa State University, Department of Economics.
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