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A Revelation Principle for Dominant Strategy Implementation

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  • Jesse A. Schwartz

    ()
    (Department of Economics, Finance and Quantitative Analysis, Kennesaw State University)

  • Quan Wen

    ()
    (Department of Economics, Vanderbilt University)

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Abstract

We introduce a perfect price discriminating (PPD) mechanism for allocation problems with private information. A PPD mechanism treats a seller, for example, as a perfect price discriminating monopolist who faces a price schedule that does not depend on her report. In any PPD mechanism, every player has a dominant strategy to truthfully report her private information. We establish a revelation principle for dominant strategy implementation: any outcome that can be dominant strategy implemented can also be dominant strategy implemented using a PPD mechanism. We apply this principle to derive the optimal, budget-balanced, dominant strategy mechanisms for public good provision and bilateral bargaining.

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File URL: http://www.accessecon.com/pubs/VUECON/vu08-w19.pdf
File Function: First version, 2008
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Bibliographic Info

Paper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0819.

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Date of creation: Oct 2008
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Handle: RePEc:van:wpaper:0819

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Web page: http://www.vanderbilt.edu/econ/wparchive/index.html

Related research

Keywords: Dominant strategy implementation; Vickrey-Clarke-Groves mechanisms; public good provision; bilateral bargaining;

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  1. Mookherjee, Dilip & Reichelstein, Stefan, 1992. "Dominant strategy implementation of Bayesian incentive compatible allocation rules," Journal of Economic Theory, Elsevier, vol. 56(2), pages 378-399, April.
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