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Reduced form implementation for environments with value interdependencies

Author

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  • Goeree, Jacob K.
  • Kushnir, Alexey

Abstract

We provide a unified and simple treatment of reduced-form implementation for general social choice problems and extend it to environments with value interdependencies. We employ the geometric approach developed by Goeree and Kushnir (2016) to characterize the set of feasible interim agent values (agent utilities excluding transfers) by deriving the analytical expression of its support function. As an application, we use the reduced-form implementation to analyze second-best mechanisms in environments with value interdependencies.

Suggested Citation

  • Goeree, Jacob K. & Kushnir, Alexey, 2016. "Reduced form implementation for environments with value interdependencies," Games and Economic Behavior, Elsevier, vol. 99(C), pages 250-256.
    • Handle: RePEc:eee:gamebe:v:99:y:2016:i:c:p:250-256
    DOI: 10.1016/j.geb.2016.08.008
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Debasis Mishra & Xu Lang, 2022. "Symmetric reduced form voting," Discussion Papers 22-03, Indian Statistical Institute, Delhi.
    2. Liang, Yong & Sun, Peng & Tang, Runyu & Zhang, Chong, 2023. "Efficient resource allocation contracts to reduce adverse events," Other publications TiSEM 0bcf44d9-d0ac-4231-beaf-8, Tilburg University, School of Economics and Management.
    3. Xu Lang & Zaifu Yang, 2021. "Reduced-Form Allocations for Multiple Indivisible Objects under Constraints," Discussion Papers 21/04, Department of Economics, University of York.
    4. Xu Lang, 2022. "Reduced-Form Allocations with Complementarity: A 2-Person Case," Papers 2202.06245, arXiv.org, revised Feb 2022.
    5. Xu Lang & Zaifu Yang, 2021. "Reduced-Form Allocations for Multiple Indivisible Objects under Constraints: A Revision," Discussion Papers 21/05, Department of Economics, University of York.
    6. Lang, Xu & Mishra, Debasis, 0. "Symmetric reduced form voting," Theoretical Economics, Econometric Society.
    7. Xu Lang & Debasis Mishra, 2022. "Symmetric reduced form voting," Papers 2207.09253, arXiv.org, revised Apr 2023.
    8. Xu Lang & Zaifu Yang, 2023. "Reduced-Form Allocations for Multiple Indivisible Objects under Constraints," Discussion Papers 23/02, Department of Economics, University of York.

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    More about this item

    Keywords

    Mechanism design; Convex analysis; Reduced-form implementation; Social choice; Interdependent values; Convex set; Support function;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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