Information in Mechanism Design
We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We specifically consider information management in the form of acquisition of new information or disclosure of existing information. Second, we argue that in the presence of endogenous information, the robustness of the mechanism to the type space and higher order beliefs becomes a natural desideratum. We discuss recent approaches to robust mechanism design and robust implementation.
|Date of creation:||Aug 2005|
|Date of revision:||Jan 2006|
|Publication status:||Published in Blundell, Newey and Persson, eds., Proceedings of the 9th World Congress of the Econometric Society, Cambridge University Press, 2006, pp. 186-221|
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