Gradual Revelation Mechanism with Two-Sided Screening
AbstractWe investigate the mechanism that provides the optimal decision rule for two agents making joint decisions. It is shown that, a special rectangular mechanism with two sided screening, elicit correct information when agents?preferences are private information. Such mechanism is presented as a game of incomplete information. It is shown that if types are uniformly distributed, then a three stage sequential game with an exogenously given probability of a terminal break down cannot be improved upon within a restricted class of models.
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Bibliographic InfoPaper provided by Institute of Economic Research, Korea University in its series Discussion Paper Series with number 0710.
Date of creation: 2007
Date of revision:
Mechanism Design; Efficiency; Risk Limit;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-11-10 (All new papers)
- NEP-GTH-2007-11-10 (Game Theory)
- NEP-MIC-2007-11-10 (Microeconomics)
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