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Robust Implementation: The Case of Direct Mechanisms

  • Dirk Bergemann
  • Stephen Morris

A social choice function is robustly implementable if there is a mechanism under which the process of iteratively eliminating strictly dominated messages leads to outcomes that agree with the social choice at every type profile. In an interdependent value environment with single crossing preferences, we identify a strict contraction property on the preferences which together with strict ex post incentive compatibility is sufficient to guarantee robust implementation in the direct mechanism. Strict EPIC and the contraction property are also necessary for robust implementation in any mechanism. The contraction property essentially requires that the interdependence is not too large. In a linear signal model, the contraction property is equivalent to an interdependence matrix having an eigenvalue less than one.

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Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 122247000000001194.

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Date of creation: 03 Mar 2006
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Handle: RePEc:cla:levrem:122247000000001194
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  1. Sushil Bikhchandani, 2004. "The Limits of Ex Post Implementation Revisited," Levine's Bibliography 122247000000000514, UCLA Department of Economics.
  2. Han Hong & Matthew Shum, 2001. "Econometric Models of Asymmetric Ascending Auctions," Economics Working Paper Archive 453, The Johns Hopkins University,Department of Economics.
  3. Oleksii Birulin & Sergei Izmalkov, 2009. "On Effciency of the English Auction," Working Papers w0139, Center for Economic and Financial Research (CEFIR).
  4. Dirk Bergemann & Stephen Morris, 2006. "Ex Post Implementation," Levine's Bibliography 122247000000001110, UCLA Department of Economics.
  5. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu & William R. Zame, 2005. "The Limits of Ex-Post Implementation," Levine's Bibliography 666156000000000548, UCLA Department of Economics.
  6. P. Dasgupta & Eric Maskin, 1998. "Efficient Auctions," Harvard Institute of Economic Research Working Papers 1857, Harvard - Institute of Economic Research.
  7. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March.
  8. Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
  9. Kim-Sau Chung & Jeffrey C. Ely, 2000. "Efficient and Dominance Solvable Auctions with Interdependent Valuations," Discussion Papers 1313, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  10. Battigalli Pierpaolo & Siniscalchi Marciano, 2003. "Rationalization and Incomplete Information," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 3(1), pages 1-46, June.
  11. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November.
  12. Dirk Bergemann & Juuso Vaimaki, 2000. "Information Acquisition and Efficient Mechanism Design," Cowles Foundation Discussion Papers 1248, Cowles Foundation for Research in Economics, Yale University.
  13. Cremer, Jacques & McLean, Richard P, 1985. "Optimal Selling Strategies under Uncertainty for a Discriminating Monopolist When Demands Are Interdependent," Econometrica, Econometric Society, vol. 53(2), pages 345-61, March.
  14. Krishna, Vijay, 2003. "Asymmetric English auctions," Journal of Economic Theory, Elsevier, vol. 112(2), pages 261-288, October.
  15. Adam Brandenburger & Eddie Dekel, 2014. "Rationalizability and Correlated Equilibria," World Scientific Book Chapters, in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 3, pages 43-57 World Scientific Publishing Co. Pte. Ltd..
  16. Palfrey, Thomas R & Srivastava, Sanjay, 1989. "Mechanism Design with Incomplete Information: A Solution to the Implementation Problem," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 668-91, June.
  17. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
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