A folk theorem for competing mechanisms
We provide a partial characterization of the set of outcome functions that can be supported as perfect Bayesian equilibrium in the recommendation game described in [T. Yamashita, Mechanism games with multiple principals and three or more agents, Econometrica 78 (2) (2010) 791–801]. We show that the set of outcome functions that can be supported is at least as large as the set supportable by a mechanism designer in the sense of Myerson (Myerson, 1979 ). We show how to support random and correlated outcomes as equilibrium outcomes in the recommendation game.
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- Myerson, Roger B, 1979.
"Incentive Compatibility and the Bargaining Problem,"
Econometric Society, vol. 47(1), pages 61-73, January.
- Roger B. Myerson, 1977. "Incentive Compatability and the Bargaining Problem," Discussion Papers 284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Gerardi, Dino, 2004.
"Unmediated communication in games with complete and incomplete information,"
Journal of Economic Theory,
Elsevier, vol. 114(1), pages 104-131, January.
- Dino Gerardi, 2002. "Unmediated Communication in Games with Complete and Incomplete Information," Cowles Foundation Discussion Papers 1371, Cowles Foundation for Research in Economics, Yale University.
- Forges, Françoise & Vida, Péter, 2013.
"Implementation of communication equilibria by correlated cheap talk: The two-player case,"
Econometric Society, vol. 8(1), January.
- Forges, Françoise & Vida, Péter, 2013. "Implementation of Communication Equilibria by Correlated Cheap Talk : the Two-Player Case," Economics Papers from University Paris Dauphine 123456789/8159, Paris Dauphine University.
- Péter Vida & Francoise Forges, 2011. "Implementation of Communication Equilibria by Correlated Cheap Talk: The Two-Player Case," CESifo Working Paper Series 3360, CESifo Group Munich.
- Takuro Yamashita, 2010. "Mechanism Games With Multiple Principals and Three or More Agents," Econometrica, Econometric Society, vol. 78(2), pages 791-801, 03.
- Larry Epstein & Michael Peters, 1996.
"A Revelation Principle For Competing Mechanisms,"
peters-96-02, University of Toronto, Department of Economics.
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