Bugs in the proofs of revelation principle
AbstractIn the field of mechanism design, the revelation principle has been known for decades. Myerson, Mas-Colell, Whinston and Green gave formal proofs of the revelation principle. However, in this paper, we argue that there are serious bugs hidden in their proofs.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 24516.
Date of creation: 19 Aug 2010
Date of revision:
Revelation principle; Mechanism design; Implementation theory.;
Find related papers by JEL classification:
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-08-28 (All new papers)
- NEP-CDM-2010-08-28 (Collective Decision-Making)
- NEP-HPE-2010-08-28 (History & Philosophy of Economics)
- NEP-REG-2010-08-28 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
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