A Note on Budget Balance under Interim Participation Constraints: The Case of Independent Types
We provide a simple proof of the equivalence between ex ante and ex post budget balance constraints in Bayesian mechanism design with independent types when participation decisions are made at the interim stage. The result is given an interpretation in terms of efficient allocation of risk.
|Date of creation:||08 Feb 2005|
|Date of revision:||23 Jun 2005|
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