Detail-Free Mechanism Design in Twice Iterative Dominance: Large Economies ( Revised version of CARF-F-007(2004) and CARF-F-062(2005); The further revision was subsequently published in "Journal of Economic Theory" as a regular article. )

Hitoshi Matsushima

No CARF-F-110, CARF F-Series from Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo

Abstract: This paper investigates unique implementation in large economies with incomplete information and interdependent values; we degenerate the common knowledge assumptions and assume that a central planner is unaware of the specifications of an environment. With a minor restriction on the class of environments, we demonstrate that there exists a detail-free mechanism that virtually implements competitive allocations with complete information in twice iterative dominance, irrespective of how the environment is specified.

Pages: 37 pages
Date: 2007-09
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Persistent link: https://EconPapers.repec.org/RePEc:cfi:fseres:cf110

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