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Bayesian and Dominant Strategy Implementation Revisited

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Author Info

  • Alex Gershkov
  • Benny Moldovanu
  • Xianwen Shi

Abstract

We consider a standard social choice environment with linear utility and one-dimensional types. We show by counterexample that, when there are at least three physical alternatives, Bayes-Nash Incentive Compatibility (BIC) and Dominant Strategy Incentive Compatibility (DIC) need no longer be equivalent. The example with three alternatives is minimal since we do obtain a general equivalence result for settings with only two social alternatives. Our negative result does not mathematically contradict the Manelli and Vincent (2010) equivalence obtained in a one-object auction setting, but it shows that BIC-DIC equivalence is only valid in restrictive environments. Our insights are based on mathematical results about the existence of monotone measures with given monotone marginals.

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Bibliographic Info

Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-422.

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Length: 15 pages
Date of creation: 10 Feb 2011
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-422

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Related research

Keywords: Bayesian Implementation; Dominant Strategy Implementation; Equivalence;

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Cited by:
  1. Csapó Gergely & Müller Rudolf, 2012. "Optimal mechanism design for the private supply of a public good," Research Memorandum 038, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  2. Jacob K. Goeree & Alexey Kushnir, 2011. "A geometric approach to mechanism design," ECON - Working Papers 056, Department of Economics - University of Zurich, revised Jun 2013.
  3. Jacob K. Goeree & Alexey Kushnir, 2011. "On the equivalence of Bayesian and dominant strategy implementation in a general class of social choice problems," ECON - Working Papers 021, Department of Economics - University of Zurich.
  4. Yeon-Koo Che & Jinwoo Kim & Konrad Mierendorff, 2011. "Generalized reduced-form auctions: a network-flow approach," ECON - Working Papers 031, Department of Economics - University of Zurich, revised Mar 2013.

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