Robustly Ranking Mechanisms
For a mechanism designer with an objective such as welfare we propose a method for robustly ranking mechanisms. The method is based on eliminating weakly dominated strategies only, and thus does not require any assumptions about agents' beliefs about each other except full support. We illustrate the usefulness of this method in two examples: bilateral trading and voting. In both examples we show that there are mechanisms that are ranked by our method above dominant strategy mechanisms. These examples question the literature's focus on dominant strategy mechanisms in cases when such mechanisms yield undesirable outcomes.
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Volume (Year): 102 (2012)
Issue (Month): 3 (May)
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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.:
- Dirk Bergemann & Stephen Morris, 2008.
"Robust Implementation in General Mechanisms,"
Cowles Foundation Discussion Papers
1666R, Cowles Foundation for Research in Economics, Yale University, revised Jan 2010.
- Dirk Bergemann & Stephen Morris, 2008. "Robust Implementation in General Mechanisms," Levine's Working Paper Archive 122247000000002286, David K. Levine.
- Dirk Bergemann & Stephen Morris, 2008. "Robust Implementation in General Mechanisms," Cowles Foundation Discussion Papers 1666, Cowles Foundation for Research in Economics, Yale University.
- Dirk Bergemann & Stephen Morris, 2010. "Robust Implementation in General Mechanisms," Levine's Working Paper Archive 661465000000000017, David K. Levine.
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"Weak Dominance and Approximate Common Knowledge,"
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Elsevier, vol. 64(1), pages 265-276, October.
- Bergemann, Dirk & Stephen Morris, 2006.
"Robust Implementation in Direct Mechanisms,"
Cowles Foundation Discussion Papers
1561R2, Cowles Foundation for Research in Economics, Yale University, revised Jan 2009.
- repec:cwl:cwldpp:1561rr is not listed on IDEAS
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