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A note on budget balance under interim participation constraints: the case of independent types

  • Tilman Börgers

    ()

  • Peter Norman

    ()

We provide a simple proof of the equivalence between ex ante and ex post budget balance constraints in Bayesian mechanism design with independent types when participation decisions are made at the interim stage. The result is given an interpretation in terms of efficient allocation of risk.

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File URL: http://hdl.handle.net/10.1007/s00199-008-0347-7
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Article provided by Springer in its journal Economic Theory.

Volume (Year): 39 (2009)
Issue (Month): 3 (June)
Pages: 477-489

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Handle: RePEc:spr:joecth:v:39:y:2009:i:3:p:477-489
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  1. Eso, Peter & Futo, Gabor, 1999. "Auction design with a risk averse seller," Economics Letters, Elsevier, vol. 65(1), pages 71-74, October.
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