IDEAS home Printed from https://ideas.repec.org/p/fip/fedmsr/226.html
   My bibliography  Save this paper

Implementation theory with incomplete information

Author

Listed:
  • Beth Allen

Abstract

This paper surveys implementation theory when players have incomplete or asymmetric information, especially in economic environments. After the basic problem is introduced, the theory of implementation is summarized. Some coalitional considerations for implementation problems are discussed. For economies with asymmetric information, cooperative games based on incentive compatibility constraints or Bayesian incentive compatible mechanisms are derived and examined.

Suggested Citation

  • Beth Allen, 1996. "Implementation theory with incomplete information," Staff Report 226, Federal Reserve Bank of Minneapolis.
  • Handle: RePEc:fip:fedmsr:226
    as

    Download full text from publisher

    File URL: http://minneapolisfed.org/research/sr/sr226.pdf
    Download Restriction: no

    File URL: http://minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=716
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ledyard, John O., 1986. "The scope of the hypothesis of Bayesian equilibrium," Journal of Economic Theory, Elsevier, vol. 39(1), pages 59-82, June.
    2. Palfrey, Thomas R. & Srivastava, Sanjay, 1991. "Efficient trading mechanisms with pre-play communication," Journal of Economic Theory, Elsevier, vol. 55(1), pages 17-40, October.
    3. Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
    4. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 23-38.
    5. Palfrey, Thomas R. & Srivastava, Sanjay, 1986. "Private information in large economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 34-58, June.
    6. R.B. Myerson, 2005. "Cooperative games with incomplete information," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 481-505, Springer.
    7. Yannelis, Nicholas C, 1991. "The Core of an Economy with Differential Information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(2), pages 183-197, April.
    8. Robert W. Rosenthal, 1978. "Arbitration of Two-party Disputes under Uncertainty," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(3), pages 595-604.
    9. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-477, March.
    10. Harris Milton & Townsend, Robert M, 1981. "Resource Allocation under Asymmetric Information," Econometrica, Econometric Society, vol. 49(1), pages 33-64, January.
    11. Forges, Francoise M, 1986. "An Approach to Communication Equilibria," Econometrica, Econometric Society, vol. 54(6), pages 1375-1385, November.
    12. Matsushima, Hitoshi, 1991. "Incentive compatible mechanisms with full transferability," Journal of Economic Theory, Elsevier, vol. 54(1), pages 198-203, June.
    13. Berliant, Marcus, 1992. "On income taxation and the core," Journal of Economic Theory, Elsevier, vol. 56(1), pages 121-141, February.
    14. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
    15. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-358, March.
    16. Harsanyi, John C, 1995. "Games with Incomplete Information," American Economic Review, American Economic Association, vol. 85(3), pages 291-303, June.
    17. Matsushima, Hitoshi, 1988. "A new approach to the implementation problem," Journal of Economic Theory, Elsevier, vol. 45(1), pages 128-144, June.
    18. Boyd, John H. & Prescott, Edward C., 1986. "Financial intermediary-coalitions," Journal of Economic Theory, Elsevier, vol. 38(2), pages 211-232, April.
    19. Blume, Lawrence & Easley, David, 1990. "Implementation of Walrasian expectations equilibria," Journal of Economic Theory, Elsevier, vol. 51(1), pages 207-227, June.
    20. Stefan Krasa & Nicholas C. Yannelis, 2005. "The value allocation of an economy with differential information," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 507-526, Springer.
    21. Ehud Kalai & Robert W. Rosenthal, 1976. "Arbitration of Two-Party Disputes Under Ignorance," Discussion Papers 215, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    22. Page, Frank H, Jr, 1992. "Bayesian Incentive Compatible Mechanisms," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(4), pages 509-524, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:cte:werepe:we081207 is not listed on IDEAS
    2. Claude d'Aspremont & Jacques Crémer & Louis-André Gérard-Varet, 2003. "Correlation, independence, and Bayesian incentives," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(2), pages 281-310, October.
    3. 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.
    4. Luis Corchon & Ignacio Ortuño-Ortin, 1994. "Robust implementation under alternative information structures," Review of Economic Design, Springer;Society for Economic Design, vol. 1(1), pages 159-171, December.
    5. Maskin, Eric & Sjostrom, Tomas, 2002. "Implementation theory," Handbook of Social Choice and Welfare,in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 5, pages 237-288 Elsevier.
    6. Vohra, Rajiv, 1999. "Incomplete Information, Incentive Compatibility, and the Core," Journal of Economic Theory, Elsevier, vol. 86(1), pages 123-147, May.
    7. Roberto Serrano, 2003. "The Theory of Implementation of Social Choice Rules," Working Papers 2003-19, Brown University, Department of Economics.
    8. Korpela, Ville & Lombardi, Michele, 2020. "Closure under interim utility equivalence implies two-agent Bayesian implementation," Games and Economic Behavior, Elsevier, vol. 121(C), pages 108-116.
    9. Eun Jeong Heo & Vikram Manjunath, 2017. "Implementation in stochastic dominance Nash equilibria," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(1), pages 5-30, January.
    10. Lombardi, M. & Yoshihara, N., 2018. "Treading a fine line: (Im)possibilities for Nash implementation with partially-honest individuals," Games and Economic Behavior, Elsevier, vol. 111(C), pages 203-216.
    11. Serrano, Roberto & Vohra, Rajiv, 2010. "Multiplicity of mixed equilibria in mechanisms: A unified approach to exact and approximate implementation," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 775-785, September.
    12. Tian, Guoqiang, 1997. "Virtual implementation in incomplete information environments with infinite alternatives and types," Journal of Mathematical Economics, Elsevier, vol. 28(3), pages 313-339, October.
    13. Takashi Kunimoto & Roberto Serrano, 2020. "Rationalizable Incentives: Interim Implementation of Sets in Rationalizable Strategies," Working Papers 2020-15, Brown University, Department of Economics.
    14. Bergin, James & Sen, Arunava, 1998. "Extensive Form Implementation in Incomplete Information Environments," Journal of Economic Theory, Elsevier, vol. 80(2), pages 222-256, June.
    15. Ehud Kalai & Dov Samet, 1986. "Are Bayesian-Nash Incentives and Implementations Perfect?," Discussion Papers 680, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    16. Michele Lombardi & Naoki Yoshihara, 2020. "Partially-honest Nash implementation: a full characterization," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(3), pages 871-904, October.
    17. Ville Korpela, 2014. "Bayesian implementation with partially honest individuals," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 43(3), pages 647-658, October.
    18. Shimoji, Makoto & Schweinzer, Paul, 2015. "Implementation without incentive compatibility: Two stories with partially informed planners," Games and Economic Behavior, Elsevier, vol. 91(C), pages 258-267.
    19. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-1819, November.
    20. Bochet, Olivier, 2007. "Switching from complete to incomplete information," Journal of Mathematical Economics, Elsevier, vol. 43(6), pages 735-748, August.
    21. Beth Allen, 1996. "Cooperative theory with incomplete information," Staff Report 225, Federal Reserve Bank of Minneapolis.

    More about this item

    Keywords

    Game theory;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedmsr:226. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kate Hansel (email available below). General contact details of provider: https://edirc.repec.org/data/cfrbmus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.