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Perfect bayseian implementation: one round of signaling is not enough

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  • Brusco, Sandro

Abstract

We show that there exists a social choice function that cannot be implemented in perfect Bayesian equilibrium if the mechanism has an equilibrium with one round of signaling. The social choice function can however be implemented in perfect Bayesian equilibrium, obviously with an equilibrium reaching the second stage.

Suggested Citation

  • Brusco, Sandro, 1997. "Perfect bayseian implementation: one round of signaling is not enough," DEE - Working Papers. Business Economics. WB 7026, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    • Handle: RePEc:cte:wbrepe:7026
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    References listed on IDEAS

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    1. Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
    2. Grossman, Sanford J. & Perry, Motty, 1986. "Perfect sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 39(1), pages 97-119, June.
    3. Bergin, James & Sen, Arunava, 1998. "Extensive Form Implementation in Incomplete Information Environments," Journal of Economic Theory, Elsevier, vol. 80(2), pages 222-256, June.
    4. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-477, March.
    5. Madrigal, Vicente & Tan, Tommy C. C. & Werlang, Sergio Ribeiro da Costa, 1987. "Support restrictions and sequential equilibria," Journal of Economic Theory, Elsevier, vol. 43(2), pages 329-334, December.
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    Cited by:

    1. Bergin, James & Sen, Arunava, 1998. "Extensive Form Implementation in Incomplete Information Environments," Journal of Economic Theory, Elsevier, vol. 80(2), pages 222-256, June.

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