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Ex post implementation

Listed author(s):
  • Bergemann, Dirk
  • Morris, Stephen

We analyze the problem of fully implementing a social choice set in ex post equilibrium. We identify an ex post monotonicity condition that is necessary and--in economic environments--sufficient for full implementation in ex post equilibrium. We also identify an ex post monotonicity no veto condition that is sufficient. Ex post monotonicity is satisfied in all single crossing environments with strict ex post incentive constraints. We show by means of two classic examples that ex post monotonicity does not imply nor is it implied by Maskin monotonicity. The single unit auction with interdependent valuations is shown to satisfy ex post monotonicity but not Maskin monotonicity. We further describe a Pareto correspondence that fails ex post monotonicity but satisfies Maskin monotonicity.

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File URL: http://www.sciencedirect.com/science/article/pii/S0899-8256(06)00147-3
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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 63 (2008)
Issue (Month): 2 (July)
Pages: 527-566

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Handle: RePEc:eee:gamebe:v:63:y:2008:i:2:p:527-566
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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  1. Palfrey, Thomas R & Srivastava, Sanjay, 1989. "Implementation with Incomplete Information in Exchange Economies," Econometrica, Econometric Society, vol. 57(1), pages 115-134, January.
  2. Neeman, Z., 1998. "The Relevance of Private Infromation in Mechanism Design," Papers 93, Boston University - Department of Economics.
  3. Dirk Bergemann & Stephen Morris, 2005. "Robust Implementation: The Role of Large Type Spaces," Cowles Foundation Discussion Papers 1519, Cowles Foundation for Research in Economics, Yale University.
  4. Dirk Bergemann & Stephen Morris, 2006. "Robust Implementation: The Case of Direct Mechanisms," Levine's Bibliography 122247000000001194, UCLA Department of Economics.
  5. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-1819, November.
  6. Palfrey, Thomas R. & Srivastava, Sanjay., 1987. "Mechanism Design with Incomplete Information: A Solution to the Implementation Problem," Working Papers 658, California Institute of Technology, Division of the Humanities and Social Sciences.
  7. Dirk Bergemann & Stephen Morris, 2005. "Robust Mechanism Design," Econometrica, Econometric Society, vol. 73(6), pages 1771-1813, November.
  8. Eric Maskin, 1998. "Nash Equilibrium and Welfare Optimality," Harvard Institute of Economic Research Working Papers 1829, Harvard - Institute of Economic Research.
  9. Yokoo, Makoto & Sakurai, Yuko & Matsubara, Shigeo, 2004. "The effect of false-name bids in combinatorial auctions: new fraud in internet auctions," Games and Economic Behavior, Elsevier, vol. 46(1), pages 174-188, January.
  10. Bikhchandani, Sushil, 2006. "Ex post implementation in environments with private goods," Theoretical Economics, Econometric Society, vol. 1(3), pages 369-393, September.
  11. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-477, March.
  12. Sjostrom, Tomas & Yamato, Takehiko & Saijo, Tatsuyoshi, 2007. "Secure implementation," Theoretical Economics, Econometric Society, vol. 2(3), September.
  13. Fieseler, Karsten & Kittsteiner, Thomas & Moldovanu, Benny, 2003. "Partnerships, lemons, and efficient trade," Journal of Economic Theory, Elsevier, vol. 113(2), pages 223-234, December.
  14. Dirk Bergemann & Juuso Vaimaki, 2000. "Information Acquisition and Efficient Mechanism Design," Cowles Foundation Discussion Papers 1248, Cowles Foundation for Research in Economics, Yale University.
  15. Arya, A. & Glover, J. & Rajan, U., 1999. "Implementation in Principal-Agent Models of Adverse Selection," GSIA Working Papers 1999-8, Carnegie Mellon University, Tepper School of Business.
  16. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu & William R. Zame, 2005. "The Limits of Ex-Post Implementation," Levine's Bibliography 666156000000000548, UCLA Department of Economics.
  17. Saijo, Tatsuyoshi, 1988. "Strategy Space Reduction in Maskin's Theorem: Sufficient Conditions for Nash Implementation," Econometrica, Econometric Society, vol. 56(3), pages 693-700, May.
  18. Ehud Kalai, 2004. "Large Robust Games," Econometrica, Econometric Society, vol. 72(6), pages 1631-1665, November.
  19. P. Dasgupta & Eric Maskin, 1998. "Efficient Auctions," Harvard Institute of Economic Research Working Papers 1857, Harvard - Institute of Economic Research.
  20. Partha Dasgupta & Peter Hammond & Eric Maskin, 1979. "The Implementation of Social Choice Rules: Some General Results on Incentive Compatibility," Review of Economic Studies, Oxford University Press, vol. 46(2), pages 185-216.
  21. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
  22. Cremer, Jacques & McLean, Richard P, 1985. "Optimal Selling Strategies under Uncertainty for a Discriminating Monopolist When Demands Are Interdependent," Econometrica, Econometric Society, vol. 53(2), pages 345-361, March.
  23. Oleksii Birulin, 2003. "Inefficient ex-post equilibria in efficient auctions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 22(3), pages 675-683, October.
  24. 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.
  25. Sushil Bikhchandani, 2004. "The Limits of Ex Post Implementation Revisited," Levine's Bibliography 122247000000000514, UCLA Department of Economics.
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