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Quantum Bayesian implementation and revelation principle

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  • Wu, Haoyang

Abstract

Bayesian implementation concerns decision making problems when agents have incomplete information. This paper proposes that the traditional sufficient conditions for Bayesian implementation shall be amended by virtue of a quantum Bayesian mechanism. In addition, by using an algorithmic Bayesian mechanism, this amendment holds in the macro world. More importantly, we find that the revelation principle is not always right by using the quantum and algorithmic Bayesian mechanisms.

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  • Wu, Haoyang, 2011. "Quantum Bayesian implementation and revelation principle," MPRA Paper 30653, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:30653
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    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. Matsushima Hitoshi, 1993. "Bayesian Monotonicity with Side Payments," Journal of Economic Theory, Elsevier, vol. 59(1), pages 107-121, February.
    3. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 23-38.
    4. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-477, March.
    5. Roberto Serrano, 2003. "The Theory of Implementation of Social Choice Rules," Economics Working Papers 0033, Institute for Advanced Study, School of Social Science.
    6. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
    7. Wu, Haoyang, 2011. "On amending the sufficient conditions for Nash implementation," MPRA Paper 30067, University Library of Munich, Germany.
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    Cited by:

    1. Wu, Haoyang, 2011. "A novel result on the revenue equivalence theorem," MPRA Paper 31988, University Library of Munich, Germany.

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    More about this item

    Keywords

    Quantum game theory; Mechanism design; Bayesian implementation; Revelation principle;
    All these keywords.

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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