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A Revelation Principle for Dominant Strategy Implementation

  • Jesse A. Schwartz


    (Department of Economics, Finance and Quantitative Analysis, Kennesaw State University)

  • Quan Wen


    (Department of Economics, Vanderbilt University)

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We introduce a perfect price discriminating (PPD) mechanism for allocation problems with private information. A PPD mechanism treats a seller, for example, as a perfect price discriminating monopolist who faces a price schedule that does not depend on her report. In any PPD mechanism, every player has a dominant strategy to truthfully report her private information. We establish a revelation principle for dominant strategy implementation: any outcome that can be dominant strategy implemented can also be dominant strategy implemented using a PPD mechanism. We apply this principle to derive the optimal, budget-balanced, dominant strategy mechanisms for public good provision and bilateral bargaining.

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File Function: First version, 2008
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Paper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0819.

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Date of creation: Oct 2008
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Handle: RePEc:van:wpaper:0819
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