Implementation of Reduced Form Mechanisms: A Simple Approach and a New Characterization
We provide a new characterization of implementability of reduced form mechanisms in terms of straightforward second-order stochastic dominance. In addition, we present a simple proof of Matthews' (1984) conjecture, proved by Border (1991), on implementability.
|Date of creation:||Dec 2011|
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311, Massachusetts Institute of Technology (MIT), Department of Economics.
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