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Implementation of Reduced Form Mechanisms: A Simple Approach and a New Characterization

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Listed:
  • Sergiu Hart

  • Philip J. Reny

Abstract

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.

Suggested Citation

  • Sergiu Hart & Philip J. Reny, 2011. "Implementation of Reduced Form Mechanisms: A Simple Approach and a New Characterization," Discussion Paper Series dp594, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    • Handle: RePEc:huj:dispap:dp594
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    2. Tymofiy Mylovanov & Andriy Zapechelnyuk, 2017. "Optimal Allocation with Ex Post Verification and Limited Penalties," American Economic Review, American Economic Association, vol. 107(9), pages 2666-2694, September.
    3. Erya Yang, 2021. "Reduced-form mechanism design and ex post fairness constraints," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(2), pages 269-293, October.
    4. Debasis Mishra & Xu Lang, 2022. "Symmetric reduced form voting," Discussion Papers 22-03, Indian Statistical Institute, Delhi.
    5. Goeree, Jacob K. & Kushnir, Alexey, 2016. "Reduced form implementation for environments with value interdependencies," Games and Economic Behavior, Elsevier, vol. 99(C), pages 250-256.
    6. Andreas Kleiner & Benny Moldovanu & Philipp Strack, 2021. "Extreme Points and Majorization: Economic Applications," Econometrica, Econometric Society, vol. 89(4), pages 1557-1593, July.
    7. Alexander V. Kolesnikov & Fedor Sandomirskiy & Aleh Tsyvinski & Alexander P. Zimin, 2022. "Beckmann's approach to multi-item multi-bidder auctions," Papers 2203.06837, arXiv.org, revised Sep 2022.
    8. Itai Arieli & Yakov Babichenko & Fedor Sandomirskiy & Omer Tamuz, 2020. "Feasible Joint Posterior Beliefs," Papers 2002.11362, arXiv.org, revised Dec 2020.
    9. Hart, Sergiu & Nisan, Noam, 2017. "Approximate revenue maximization with multiple items," Journal of Economic Theory, Elsevier, vol. 172(C), pages 313-347.
    10. Lang, Xu & Mishra, Debasis, 2024. "Symmetric reduced form voting," Theoretical Economics, Econometric Society, vol. 19(2), May.
    11. Kai Hao Yang & Philipp Strack, 2023. "Privacy Preserving Signals," Cowles Foundation Discussion Papers 2379, Cowles Foundation for Research in Economics, Yale University.
    12. Xu Lang, 2022. "Reduced-form budget allocation with multiple public alternatives," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 59(2), pages 335-359, August.
    13. Alex Gershkov & Benny Moldovanu & Philipp Strack & Mengxi Zhang, 2021. "A Theory of Auctions with Endogenous Valuations," Journal of Political Economy, University of Chicago Press, vol. 129(4), pages 1011-1051.
    14. Xu Lang, 2023. "A Belief-Based Characterization of Reduced-Form Auctions," Papers 2307.04070, arXiv.org.
    15. Xu Lang & Debasis Mishra, 2022. "Symmetric reduced form voting," Papers 2207.09253, arXiv.org, revised Apr 2023.
    16. Xu Lang & Zaifu Yang, 2021. "Reduced-Form Allocations for Multiple Indivisible Objects under Constraints," Discussion Papers 21/04, Department of Economics, University of York.

    More about this item

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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