On Detail-Free Mechanism Design and Rationality
The study of mechanism design is sometimes criticized, because the designed mechanisms depend on the fine detail of the model specification, and agents' behavior relies on the strong common knowledge assumptions on their rationality and others. Hence, the study of 'detail-free' mechanism design with weak informational assumptions is the most important to make as the first step towards a practically useful theory. This paper will emphasize that even if we confine our attentions to detail-free mechanisms with week rationality, there still exist a plenty of scope for development of new ideas on how to design a mechanism to play the powerful role. We briefly explain my recent works on this line, and argue that the use of stochastic decision works much in large exchange economics, and agents' moral preferences can drastically improve implementability of social choice functions.
|Date of creation:||Jun 2004|
|Contact details of provider:|| Postal: Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033|
Web page: http://www.carf.e.u-tokyo.ac.jp/english/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Martin J. Osborne & Ariel Rubinstein, 1994.
"A Course in Game Theory,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262650401, December.
- Benoit, Jean-Pierre, 2002. "Strategic Manipulation in Voting Games When Lotteries and Ties Are Permitted," Journal of Economic Theory, Elsevier, vol. 102(2), pages 421-436, February.
- Matsushima, Hitoshi, 1991. "Coalitionally dominant strategy mechanisms with limited public information," Economics Letters, Elsevier, vol. 37(4), pages 371-375, December.
- Aldo Rustichini, 1992.
"Convergence to Efficiency in a Simple Market with Incomplete Information,"
995, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Rustichini, Aldo & Satterthwaite, Mark A & Williams, Steven R, 1994. "Convergence to Efficiency in a Simple Market with Incomplete Information," Econometrica, Econometric Society, vol. 62(5), pages 1041-1063, September.
- Eric Maskin, 1998.
"Nash Equilibrium and Welfare Optimality,"
Harvard Institute of Economic Research Working Papers
1829, Harvard - Institute of Economic Research.
- Jean Tirole, 1999. "Incomplete Contracts: Where Do We Stand?," Econometrica, Econometric Society, vol. 67(4), pages 741-782, July.
- Jeffrey C. Ely & Kim-Sau Chung, 2004.
"Foundations of Dominant Strategy Mechanisms,"
Econometric Society 2004 North American Summer Meetings
169, Econometric Society.
- Jeff Ely, 2003. "Foundations of Dominant Strategy Mechanisms," Theory workshop papers 658612000000000064, UCLA Department of Economics.
- Kim-Sau Chung & Jeffrey C. Ely, 2003. "Foundations of Dominant Strategy Mechanisms," Discussion Papers 1372, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Hitoshi Matsushima, 2004.
"Large Auction Design in Dominance,"
CARF-F-007, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
- McAfee, R. Preston, 1992.
"A dominant strategy double auction,"
Journal of Economic Theory,
Elsevier, vol. 56(2), pages 434-450, April.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
- Matsushima, Hitoshi, 1990. "Dominant strategy mechanisms with mutually payoff-relevant private information and with public information," Economics Letters, Elsevier, vol. 34(2), pages 109-112, October.
- Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Wilson, Robert B, 1985. "Incentive Efficiency of Double Auctions," Econometrica, Econometric Society, vol. 53(5), pages 1101-1115, September.
- Matsushima, Hitoshi, 1988. "A new approach to the implementation problem," Journal of Economic Theory, Elsevier, vol. 45(1), pages 128-144, June.
- Matsushima, Hitoshi, 1991. "Incentive compatible mechanisms with full transferability," Journal of Economic Theory, Elsevier, vol. 54(1), pages 198-203, June.
- Hitoshi Matsushima, 2003. "Universal Mechanisms and Moral Preferences in Implementation," CIRJE F-Series CIRJE-F-254, CIRJE, Faculty of Economics, University of Tokyo.
- Gibbard, Allan, 1977. "Manipulation of Schemes That Mix Voting with Chance," Econometrica, Econometric Society, vol. 45(3), pages 665-681, April.
- Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
- Matsushima Hitoshi, 1993. "Bayesian Monotonicity with Side Payments," Journal of Economic Theory, Elsevier, vol. 59(1), pages 107-121, February.
When requesting a correction, please mention this item's handle: RePEc:cfi:fseres:cf010. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.