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Bayesian implementation in exchange economies with state dependent feasible sets and private information

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  • Lu Hong

    (Department of Economics, Syracuse University, 110 Eggers Hall, Syracuse, NY 13244, USA)

Abstract

This paper considers the problem of implementation for exchange economies with state dependent feasible sets. Agents are assumed to have private information about their endowments. We provide necessary and sufficient conditions for social choice rules that are Bayesian implementable by feasible mechanisms for such an environment. We compare our main result to the Nash implementation result derived in an environment of complete information.

Suggested Citation

  • Lu Hong, 1996. "Bayesian implementation in exchange economies with state dependent feasible sets and private information," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 13(4), pages 433-444.
  • Handle: RePEc:spr:sochwe:v:13:y:1996:i:4:p:433-444
    Note: Received: 30 September 1994/Accepted: 16 May 1995
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    Cited by:

    1. Brusco, Sandro & Jackson, Matthew O., 1999. "The Optimal Design of a Market," Journal of Economic Theory, Elsevier, vol. 88(1), pages 1-39, September.
    2. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 655-708.
    3. repec:dau:papers:123456789/166 is not listed on IDEAS
    4. Byungchae Rhee, 2004. "A Characterization of Optimal Feasible Tax Mechanism," Econometric Society 2004 Far Eastern Meetings 551, Econometric Society.
    5. Hong, Lu, 1998. "Feasible Bayesian Implementation with State Dependent Feasible Sets," Journal of Economic Theory, Elsevier, vol. 80(2), pages 201-221, June.
    6. Triossi, Matteo & Corchón Díaz, Luis Carlos, 2005. "Implementation with state dependent feasible sets and preferences: a renegotiation approach," UC3M Working papers. Economics we057136, Universidad Carlos III de Madrid. Departamento de Economía.

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