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Ex-post Implementation with Interdependent Valuations

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  • Moldovanu, Benny

    (Department of Economics, University of Mannheim, Germany)

  • Meyer-ter-Vehn, Moritz

    (Graduiertenkolleg Finanz- und Gütermärkte)

Abstract

We consider a social choice setting with multidimensional signals and interdependent valuations. Such frameworks have been recently and increasingly used in order to study multi-object auctions. We obtain concise characterizations of ex-post implementable (not necessarily efficient) social choice functions in terms of affine functions that associate a weight to each agent and to each alternative. These characterizations can greatly reduce the complexity of the search for a constrained efficient (i.e., second best) mechanism in the generic cases where efficient outcomes cannot be implemented.

Suggested Citation

  • Moldovanu, Benny & Meyer-ter-Vehn, Moritz, 2002. "Ex-post Implementation with Interdependent Valuations," Sonderforschungsbereich 504 Publications 02-08, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    • Handle: RePEc:xrs:sfbmaa:02-08
    Note: We wish to thank Philippe Jehiel for helpful comments.
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    File URL: http://www.sfb504.uni-mannheim.de/publications/dp02-08.pdf
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    Cited by:

    1. Mishra, Debasis & Sen, Arunava, 2012. "Robertsʼ Theorem with neutrality: A social welfare ordering approach," Games and Economic Behavior, Elsevier, vol. 75(1), pages 283-298.
    2. Ron Lavi & Ahuva Mu’alem & Noam Nisan, 2009. "Two simplified proofs for Roberts’ theorem," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 32(3), pages 407-423, March.
    3. Philippe Jehiel & Moritz Meyer-ter-Vehn & Benny Moldovanu, 2008. "Ex-post implementation and preference aggregation via potentials," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(3), pages 469-490, December.
    4. Swaprava Nath & Nath and Arunava Sen, 2014. "Affine maximizers in domains with selfish valuations," Discussion Papers 14-12, Indian Statistical Institute, Delhi.
    5. Holzman, Ron & Monderer, Dov, 2004. "Characterization of ex post equilibrium in the VCG combinatorial auctions," Games and Economic Behavior, Elsevier, vol. 47(1), pages 87-103, April.

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