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Undominated mechanisms

Author

Listed:
  • Borgers, Timan

    (University of Michigan)

  • Li, Jiangtao

    (Singapore Management University)

  • Wang, Kexin

    (Singapore Management University)

Abstract

We study the design of mechanisms when the designer faces multiple plausible scenarios and is uncertain about the true scenario. A mechanism is dominated by another if the latter performs at least as well in all plausible scenarios and strictly better in at least one. A mechanism is undominated if no other feasible mechanism dominates it. We show how analyzing undominated mechanisms could be useful and illustrate the tractability of characterizing such mechanisms. This approach provides an alternative criterion for mechanism design under non-Bayesian uncertainty, complementing existing methods.

Suggested Citation

  • Borgers, Timan & Li, Jiangtao & Wang, Kexin, 2024. "Undominated mechanisms," Economics and Statistics Working Papers 12-2024, Singapore Management University, School of Economics.
  • Handle: RePEc:ris:smuesw:2024_012
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    Keywords

    Robust Mechanism Design; Undominated Mechanisms; Maxmin Approrach; Regret Minimization; Second-price Auction; Random Reserve Price;
    All these keywords.

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