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Detail-Free Mechanism Design in Twice Iterative Dominance: Large Economies

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Author Info
Hitoshi Matsushima (Faculty of Economics, University of Tokyo)

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Abstract

This paper investigates unique implementation in large economies with incomplete information and interdependent values; we degenerate the common knowledge assumptions and assume that a central planner is unaware of the specifications of an environment. With a minor restriction on the class of environments, we demonstrate that there exists a detail-free mechanism that virtually implements competitive allocations with complete information in twice iterative dominance, irrespective of how the environment is specified.

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File URL: http://www.e.u-tokyo.ac.jp/cirje/research/dp/2007/2007cf519.pdf
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Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-519.

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Length: 37 pages
Date of creation: Sep 2007
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Handle: RePEc:tky:fseres:2007cf519

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  1. Fudenberg, Drew & Mobius, Markus & Szeidl, Adam, 2007. "Existence of equilibrium in large double auctions," Journal of Economic Theory, Elsevier, vol. 133(1), pages 550-567, March. [Downloadable!] (restricted)
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  2. Dirk Bergemann & Stephen Morris, 2005. "Robust Implementation: The Role of Large Type Spaces," Cowles Foundation Discussion Papers 1519, Cowles Foundation, Yale University. [Downloadable!]
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  3. Matsushima, Hitoshi, 2007. "Mechanism design with side payments: Individual rationality and iterative dominance," Journal of Economic Theory, Elsevier, vol. 133(1), pages 1-30, March. [Downloadable!] (restricted)
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  4. Matsushima Hitoshi, 1993. "Bayesian Monotonicity with Side Payments," Journal of Economic Theory, Elsevier, vol. 59(1), pages 107-121, February. [Downloadable!] (restricted)
  5. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October. [Downloadable!] (restricted)
  6. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March. [Downloadable!] (restricted)
  7. Abreu, D. & Matsushima, H., 1991. "Virtual Implementation in Iteratively Undominated Strategies: Incomplete Information," Papers e-91-2, Stanford - Hoover Institution.
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  8. Maskin, Eric & Sjostrom, Tomas, 2002. "Implementation theory," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 5, pages 237-288 Elsevier. [Downloadable!] (restricted)
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  9. Dirk Bergemann & Stephen Morris, 2005. "Robust Mechanism Design," NajEcon Working Paper Reviews 666156000000000593, www.najecon.org. [Downloadable!]
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  10. Hitoshi Matsushima, 2006. "Role of Honesty in Full Implementation," CIRJE F-Series CIRJE-F-405, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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  11. Paul Klemperer, 2004. "Auctions: Theory and Practice," Economics Papers 2004-W09, Economics Group, Nuffield College, University of Oxford. [Downloadable!]
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  12. Palfrey, Thomas R. & Srivastava, Sanjay, 1986. "Private information in large economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 34-58, June. [Downloadable!] (restricted)
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