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Robust Implementation Under Alternative Information Structures

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  • Luis Corchón

    ()
    (Universidad de Alicante)

  • Ignacio Ortuño Ortín

    (Universidad de Alicante)

Abstract

In this paper we consider a model in which agents have complete information about their neighbours and, possibly, incomplete information about the rest of the economy. We consider two different informational frameworks. In the first, agents do not have priors about what is going on in the rest of the economy. In the second, agents are supposed to havepriors about the unknown characteristics. We present a mechanism which implements any social choice correspondence satisfying monotonicity and no veto power in both informational settings for every possible prior thus requiring little knowledge from the point of view of the designer of the information possesed by agents about the economy.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1991-12.pdf
File Function: Fisrt version / Primera version, 1991
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1991-12.

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Length: 30 pages
Date of creation: Jan 1991
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:1991-12

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References

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  1. Moore, John & Repullo, Rafael, 1990. "Nash Implementation: A Full Characterization," Econometrica, Econometric Society, vol. 58(5), pages 1083-99, September.
  2. Palfrey, Thomas R & Srivastava, Sanjay, 1989. "Implementation with Incomplete Information in Exchange Economies," Econometrica, Econometric Society, vol. 57(1), pages 115-34, January.
  3. d'ASPREMONT, Claude & GERARD-VARET, Louis-André, . "Incentives and incomplete information," CORE Discussion Papers RP -354, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Tadenuma Koichi & Thomson William, 1995. "Games of Fair Division," Games and Economic Behavior, Elsevier, vol. 9(2), pages 191-204, May.
  5. Matthew 0. Jackson, 1989. "Implementation in Undominated Strategies - A Look at Bounded Mechanisms," Discussion Papers 833, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Harris Milton & Townsend, Robert M, 1981. "Resource Allocation under Asymmetric Information," Econometrica, Econometric Society, vol. 49(1), pages 33-64, January.
  7. Matthew O. Jackson, 1990. "Undominated Nash Implementation in Bounded Mechanisms," Discussion Papers 966, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March.
  9. Palfrey, Thomas R. & Srivastava, Sanjay, 1986. "Private information in large economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 34-58, June.
  10. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
  11. Luis Corchón & Simon Wilkie, 1990. "Doubly implementing the ratio correspondence with a "natural" mechanism," Working Papers. Serie AD 1990-03, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  12. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
  13. Matsushima, Hitoshi, 1988. "A new approach to the implementation problem," Journal of Economic Theory, Elsevier, vol. 45(1), pages 128-144, June.
  14. Saijo, Tatsuyoshi, 1988. "Strategy Space Reduction in Maskin's Theorem: Sufficient Conditions for Nash Implementation," Econometrica, Econometric Society, vol. 56(3), pages 693-700, May.
  15. Blume, Lawrence & Easley, David, 1990. "Implementation of Walrasian expectations equilibria," Journal of Economic Theory, Elsevier, vol. 51(1), pages 207-227, June.
  16. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
  17. Palfrey, Thomas R & Srivastava, Sanjay, 1991. "Nash Implementation Using Undominated Strategies," Econometrica, Econometric Society, vol. 59(2), pages 479-501, March.
  18. Williams, Steven R, 1986. "Realization and Nash Implementation: Two Aspects of Mechanism Design," Econometrica, Econometric Society, vol. 54(1), pages 139-51, January.
  19. Schmeidler, David, 1980. "Walrasian Analysis via Strategic Outcome Functions," Econometrica, Econometric Society, vol. 48(7), pages 1585-93, November.
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