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Information in Mechanism Design

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Abstract

We survey the recent literature on the role of information for mechanism design. We specifically consider the role of endogeneity of and robustness to private information in mechanism design. We view information acquisition of and robustness to private information as two distinct but related aspects of information management important in many design settings. We review the existing literature and point out directions for additional future work.

Suggested Citation

  • Dirk Bergemann & Juuso Valimaki, 2005. "Information in Mechanism Design," Cowles Foundation Discussion Papers 1532, Cowles Foundation for Research in Economics, Yale University.
  • Handle: RePEc:cwl:cwldpp:1532
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    Cited by:

    1. Cremer, Jacques & Spiegel, Yossi & Zheng, Charles Zhoucheng, 2007. "Optimal search auctions," Journal of Economic Theory, Elsevier, vol. 134(1), pages 226-248, May.
    2. Vasiliki Skreta, 2011. "On the informed seller problem: optimal information disclosure," Review of Economic Design, Springer;Society for Economic Design, vol. 15(1), pages 1-36, March.
    3. Bergemann, Dirk & Pavan, Alessandro, 2015. "Introduction to Symposium on Dynamic Contracts and Mechanism Design," Journal of Economic Theory, Elsevier, vol. 159(PB), pages 679-701.
    4. Jingfeng Lu, 2009. "Why a Simple Second-Price Auction Induces Efficient Endogenous Entry," Theory and Decision, Springer, vol. 66(2), pages 181-198, February.
    5. Iossa, Elisabetta & Martimort, David, 2015. "Pessimistic information gathering," Games and Economic Behavior, Elsevier, vol. 91(C), pages 75-96.
    6. Eva I. Hoppe & Patrick W. Schmitz, 2013. "Contracting under Incomplete Information and Social Preferences: An Experimental Study," Review of Economic Studies, Oxford University Press, vol. 80(4), pages 1516-1544.
    7. Shi, Xianwen, 2012. "Optimal auctions with information acquisition," Games and Economic Behavior, Elsevier, vol. 74(2), pages 666-686.
    8. Szech, Nora, 2011. "Optimal advertising of auctions," Journal of Economic Theory, Elsevier, vol. 146(6), pages 2596-2607.
    9. Terstiege, Stefan, 2012. "Endogenous information and stochastic contracts," Games and Economic Behavior, Elsevier, vol. 76(2), pages 535-547.
    10. repec:eee:jetheo:v:170:y:2017:i:c:p:86-111 is not listed on IDEAS
    11. Hoppe, Eva I., 2013. "Observability of information acquisition in agency models," Economics Letters, Elsevier, vol. 119(1), pages 104-107.
    12. Lu, Jingfeng & Ye, Lixin, 2013. "Efficient and optimal mechanisms with private information acquisition costs," Journal of Economic Theory, Elsevier, vol. 148(1), pages 393-408.
    13. repec:eee:matsoc:v:93:y:2018:i:c:p:37-46 is not listed on IDEAS
    14. Bognar, Katalin & Börgers, Tilman & Meyer-ter-Vehn, Moritz, 2010. "An optimal Voting System when Voting is costly," MPRA Paper 29123, University Library of Munich, Germany.
    15. Inderst, Roman & Peitz, Martin, 2012. "Informing consumers about their own preferences," International Journal of Industrial Organization, Elsevier, vol. 30(5), pages 417-428.
    16. Xu, Xiaoshu & Levin, Dan & Ye, Lixin, 2013. "Auctions with entry and resale," Games and Economic Behavior, Elsevier, vol. 79(C), pages 92-105.
    17. Bognar, Katalin & Börgers, Tilman & Meyer-ter-Vehn, Moritz, 2015. "An optimal voting procedure when voting is costly," Journal of Economic Theory, Elsevier, vol. 159(PB), pages 1056-1073.
    18. Sophie Bade, 2010. "Matching Allocation Problems with Endogenous Information Acquisition," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2010_46, Max Planck Institute for Research on Collective Goods.
    19. Miettinen, Paavo, 2010. "Information acquisition during a Dutch auction," Research Discussion Papers 7/2010, Bank of Finland.
    20. Inderst, Roman & Peitz, Martin, 2008. "Selling Service Plans to Differentially Informed Customers," ZEW Discussion Papers 08-125, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    21. Miettinen, Paavo, 2012. "Information acquisition during a Dutch auction," Research Discussion Papers 8/2012, Bank of Finland.
    22. Miettinen, Paavo, 2013. "Information acquisition during a Dutch auction," Journal of Economic Theory, Elsevier, vol. 148(3), pages 1213-1225.
    23. repec:eee:jetheo:v:171:y:2017:i:c:p:174-212 is not listed on IDEAS

    More about this item

    Keywords

    Mechanism Design; Information Acquisition; Ex Post Equilibrium; Robust Mechanism Design; Interdependent Values; Information Management;

    JEL classification:

    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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