IDEAS home Printed from https://ideas.repec.org/a/spr/reecde/v1y1994i1p159-171.html
   My bibliography  Save this article

Robust implementation under alternative information structures

Author

Listed:
  • Luis Corchon
  • Ignacio Ortuño-Ortin

Abstract

In this paper we consider a model in which agents have complete information about their neighbours and, possibly, incomplete information about the rest of the economy. We consider two different informational frameworks. In the first, agents do not have priors about what is going on in the rest of the economy. In the second, agents are supposed to havepriors about the unknown characteristics. We present a mechanism which implements any social choice correspondence satisfying monotonicity and no veto power in both informational settings for every possible prior thus requiring little knowledge from the point of view of the designer of the information possesed by agents about the economy.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Luis Corchon & Ignacio Ortuño-Ortin, 1994. "Robust implementation under alternative information structures," Review of Economic Design, Springer;Society for Economic Design, vol. 1(1), pages 159-171, December.
    • Handle: RePEc:spr:reecde:v:1:y:1994:i:1:p:159-171
    DOI: 10.1007/BF02716619
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/BF02716619
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/BF02716619?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Palfrey, Thomas R & Srivastava, Sanjay, 1989. "Implementation with Incomplete Information in Exchange Economies," Econometrica, Econometric Society, vol. 57(1), pages 115-134, January.
    2. Luis Corchón & Simon Wilkie, 1990. "Doubly implementing the ratio correspondence with a "natural" mechanism," Working Papers. Serie AD 1990-03, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    3. Palfrey, Thomas R & Srivastava, Sanjay, 1991. "Nash Implementation Using Undominated Strategies," Econometrica, Econometric Society, vol. 59(2), pages 479-501, March.
    4. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    5. Williams, Steven R, 1986. "Realization and Nash Implementation: Two Aspects of Mechanism Design," Econometrica, Econometric Society, vol. 54(1), pages 139-151, January.
    6. Saijo, Tatsuyoshi, 1988. "Strategy Space Reduction in Maskin's Theorem: Sufficient Conditions for Nash Implementation," Econometrica, Econometric Society, vol. 56(3), pages 693-700, May.
    7. Matsushima, Hitoshi, 1988. "A new approach to the implementation problem," Journal of Economic Theory, Elsevier, vol. 45(1), pages 128-144, June.
    8. Matthew O. Jackson, 1992. "Implementation in Undominated Strategies: A Look at Bounded Mechanisms," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(4), pages 757-775.
    9. Ledyard, John O., 1978. "Incentive compatibility and incomplete information," Journal of Economic Theory, Elsevier, vol. 18(1), pages 171-189, June.
    10. Jackson Matthew O. & Palfrey Thomas R. & Srivastava Sanjay, 1994. "Undominated Nash Implementation in Bounded Mechanisms," Games and Economic Behavior, Elsevier, vol. 6(3), pages 474-501, May.
    11. Palfrey, Thomas R. & Srivastava, Sanjay, 1986. "Private information in large economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 34-58, June.
    12. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
    13. Schmeidler, David, 1980. "Walrasian Analysis via Strategic Outcome Functions," Econometrica, Econometric Society, vol. 48(7), pages 1585-1593, November.
    14. Moore, John & Repullo, Rafael, 1990. "Nash Implementation: A Full Characterization," Econometrica, Econometric Society, vol. 58(5), pages 1083-1099, September.
    15. Tadenuma Koichi & Thomson William, 1995. "Games of Fair Division," Games and Economic Behavior, Elsevier, vol. 9(2), pages 191-204, May.
    16. Blume, Lawrence & Easley, David, 1990. "Implementation of Walrasian expectations equilibria," Journal of Economic Theory, Elsevier, vol. 51(1), pages 207-227, June.
    17. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-477, March.
    18. d'Aspremont, Claude & Gerard-Varet, Louis-Andre, 1979. "Incentives and incomplete information," Journal of Public Economics, Elsevier, vol. 11(1), pages 25-45, February.
    19. Harris Milton & Townsend, Robert M, 1981. "Resource Allocation under Asymmetric Information," Econometrica, Econometric Society, vol. 49(1), pages 33-64, January.
    20. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 655-708.
    2. Carmen Beviá & Luis Corchón, 2022. "Contests with dominant strategies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 74(4), pages 1-19, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:cte:werepe:we081207 is not listed on IDEAS
    2. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 655-708.
    3. Roberto Serrano, 2003. "The Theory of Implementation of Social Choice Rules," Working Papers 2003-19, Brown University, Department of Economics.
    4. Maskin, Eric & Sjostrom, Tomas, 2002. "Implementation theory," Handbook of Social Choice and Welfare,in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 5, pages 237-288 Elsevier.
    5. Tian, Guoqiang, 1997. "Virtual implementation in incomplete information environments with infinite alternatives and types," Journal of Mathematical Economics, Elsevier, vol. 28(3), pages 313-339, October.
    6. Michele Lombardi & Naoki Yoshihara, 2020. "Partially-honest Nash implementation: a full characterization," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(3), pages 871-904, October.
    7. Lombardi, M. & Yoshihara, N., 2018. "Treading a fine line: (Im)possibilities for Nash implementation with partially-honest individuals," Games and Economic Behavior, Elsevier, vol. 111(C), pages 203-216.
    8. Jackson Matthew O. & Palfrey Thomas R. & Srivastava Sanjay, 1994. "Undominated Nash Implementation in Bounded Mechanisms," Games and Economic Behavior, Elsevier, vol. 6(3), pages 474-501, May.
    9. Guoqiang Tian, 1999. "Bayesian implementation in exchange economies with state dependent preferences and feasible sets," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 16(1), pages 99-119.
    10. Lombardi, Michele & Yoshihara, Naoki, 2016. "Partially-honest Nash Implementation with Non-connected Honesty Standards," Discussion Paper Series 633, Institute of Economic Research, Hitotsubashi University.
    11. Michele Lombardi & Naoki Yoshihara, 2017. "Treading a Â…fine line: (Im)possibilities for Nash implementation with partially-honest individuals," Working Papers SDES-2017-14, Kochi University of Technology, School of Economics and Management, revised Aug 2017.
    12. Michele Lombardi & Naoki Yoshihara, 2013. "A full characterization of nash implementation with strategy space reduction," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 131-151, September.
    13. Kartik, Navin & Tercieux, Olivier & Holden, Richard, 2014. "Simple mechanisms and preferences for honesty," Games and Economic Behavior, Elsevier, vol. 83(C), pages 284-290.
    14. Saijo, Tatsuyoshi & Tatamitani, Yoshikatsu & Yamato, Takehiko, 1996. "Toward Natural Implementation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 949-980, November.
    15. Hong, Lu, 1998. "Feasible Bayesian Implementation with State Dependent Feasible Sets," Journal of Economic Theory, Elsevier, vol. 80(2), pages 201-221, June.
    16. Beth Allen, 1996. "Implementation theory with incomplete information," Staff Report 226, Federal Reserve Bank of Minneapolis.
    17. Yamato, Takehiko, 1999. "Nash implementation and double implementation: equivalence theorems1," Journal of Mathematical Economics, Elsevier, vol. 31(2), pages 215-238, March.
    18. Choi, Jaewon & Kim, Taesung, 1999. "A Nonparametric, Efficient Public Good Decision Mechanism: Undominated Bayesian Implementation," Games and Economic Behavior, Elsevier, vol. 27(1), pages 64-85, April.
    19. Bhaskar Dutta & Arunava Sen, 1994. "2-person Bayesian implementation," Review of Economic Design, Springer;Society for Economic Design, vol. 1(1), pages 41-54, December.
    20. Caffera, Marcelo & Dubra, Juan & Figueroa, Nicolás, 2018. "Mechanism design when players’ preferences and information coincide," Mathematical Social Sciences, Elsevier, vol. 91(C), pages 56-61.
    21. Serrano, Roberto & Vohra, Rajiv, 2010. "Multiplicity of mixed equilibria in mechanisms: A unified approach to exact and approximate implementation," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 775-785, September.

    More about this item

    Keywords

    Nash Implementation; Incomplete information; Local information; CF2; DF1; D82;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:reecde:v:1:y:1994:i:1:p:159-171. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.