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Asking questions

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  • Kos, Nenad

Abstract

We examine a model of limited communication in which the seller is selling a single good to two potential buyers. In each of the finite number of periods the seller asks one of the two buyers a binary question. After the final answer, the allocation and the transfers are executed. The model sheds light on the communication protocols that arise in welfare maximizing mechanisms.

Suggested Citation

  • Kos, Nenad, 2014. "Asking questions," Games and Economic Behavior, Elsevier, vol. 87(C), pages 642-650.
    • Handle: RePEc:eee:gamebe:v:87:y:2014:i:c:p:642-650
    DOI: 10.1016/j.geb.2013.06.003
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    References listed on IDEAS

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    1. Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
    2. Elena Grigorieva & P. Herings & Rudolf Müller & Dries Vermeulen, 2007. "The private value single item bisection auction," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(1), pages 107-118, January.
    3. Fadel, Ronald & Segal, Ilya, 2009. "The communication cost of selfishness," Journal of Economic Theory, Elsevier, vol. 144(5), pages 1895-1920, September.
    4. Paul Milgrom, 2009. "Assignment Messages and Exchanges," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 95-113, August.
    5. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-358, March.
    6. Mount, Kenneth & Reiter, Stanley, 1974. "The informational size of message spaces," Journal of Economic Theory, Elsevier, vol. 8(2), pages 161-192, June.
    7. Kos, Nenad, 2012. "Communication and efficiency in auctions," Games and Economic Behavior, Elsevier, vol. 75(1), pages 233-249.
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    More about this item

    Keywords

    Mechanism design; Limited communication; Welfare maximization;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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