Ex-post implementation with interdependent values

Saurav Goyal and Aroon Narayanan

Games and Economic Behavior, 2023, vol. 142, issue C, 440-453

Abstract: We characterize ex-post implementable allocation rules for single object auctions under quasi-linear preferences with interdependent value functions. We show that requiring ex-post implementability is equivalent to requiring a weakening of monotonicity, which is a familiar condition used to characterize dominant strategy implementation. We illustrate that non-monotone rules may be necessary to achieve objectives such as efficiency and revenue maximizations, even in standard models such as the maximum signal model studied in Bulow and Klemperer (2002), and Bergemann et al. (2020).

Keywords: Ex-post implementation; Interdependent value auction; Eventual monotonicity; Optimal auction (search for similar items in EconPapers)
JEL-codes: D44 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:142:y:2023:i:c:p:440-453

DOI: 10.1016/j.geb.2023.09.002

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