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Bugs in the proofs of revelation principle

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  • Wu, Haoyang

Abstract

In 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 Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 24516.

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Date of creation: 19 Aug 2010
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Handle: RePEc:pra:mprapa:24516

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Related research

Keywords: Revelation principle; Mechanism design; Implementation theory.;

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  1. 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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