Mechanism Design with Multidimensional, Continuous Types and Interdependent Valuations

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Mechanism Design with Multidimensional, Continuous Types and Interdependent Valuations

Author Info

Miller, Nolan (Harvard U)
Pratt, John H. (Harvard U)
Zeckhauser, Richard (Harvard U)
Johnson, Scott (Australian National U)

Additional information is available for the following registered author(s):

Richard J. Zeckhauser

Abstract

We consider the mechanism design problem when agents' types are multidimensional and continuous, and their valuations are interdependent. If there are at least three agents whose types satisfy a weak correlation condition, then for any decision rule there exist balanced transfers that render truthful revelation a Bayesian ?-equilibrium. A slightly stronger correlation condition ensures balanced transfers exist that induce a Bayesian Nash equilibrium in which agents' strategies are nearly truthful. This paper extends the analysis of KSG RWP03-020.

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Paper provided by Harvard University, John F. Kennedy School of Government in its series Working Paper Series with number rwp06-028.

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Date of creation: Jul 2006
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Handle: RePEc:ecl:harjfk:rwp06-028

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Article
- Miller, Nolan H. & Pratt, John W. & Zeckhauser, Richard J. & Johnson, Scott, 2007. "Mechanism design with multidimensional, continuous types and interdependent valuations," Journal of Economic Theory, Elsevier, vol. 136(1), pages 476-496, September. [Downloadable!] (restricted)

Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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Other versions:
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