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Evaluating the conditions for robust mechanism design

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  • Takashi Kunimoto

    ()
    (McGill University and CIREQ)

  • Roberto Serrano

    ()
    (Brown University and IMDEA Ciencias Sociales)

Abstract

We assess the strength of the different conditions identified in the literature of robust mechanism design. We focus on three conditions: ex post incentive compatibility, robust monotonicity, and robust measurability. Ex post incentive compatibility has been shown to be necessary for any concept of robust implementation, while robust monotonicity and robust measurability have been shown to be necessary for robust (full) exact and virtual implementation, respectively. This paper shows that while violations of ex post incentive compatibility and robust monotonicity do not easily go away, we identify a mild condition on environments in which robust measurability is satisfied by all social choice functions over an open and dense subset of first-order types. We conclude that there is a precise sense in which robust virtual implementation can be significantly more permissive than robust exact implementation.

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Bibliographic Info

Paper provided by Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales in its series Working Papers with number 2010-05.

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Date of creation: 25 Mar 2010
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Handle: RePEc:imd:wpaper:wp2010-05

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Keywords: robust mechanism design; ex post incentive compatibility; robust monotonicity; robust measurability;

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Cited by:
  1. Dirk Bergemann & Stephen Morris, 2011. "Robust Mechanism Design: An Introduction," Cowles Foundation Discussion Papers 1818, Cowles Foundation for Research in Economics, Yale University.

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