A folk theorem for competing mechanisms

Michael Peters () and Cristián Troncoso-Valverde

Journal of Economic Theory, 2013, vol. 148, issue 3, 953-973

Abstract: We provide a partial characterization of the set of outcome functions that can be supported as perfect Bayesian equilibrium in the recommendation game described in [T. Yamashita, Mechanism games with multiple principals and three or more agents, Econometrica 78 (2) (2010) 791–801]. We show that the set of outcome functions that can be supported is at least as large as the set supportable by a mechanism designer in the sense of Myerson (Myerson, 1979 [13]). We show how to support random and correlated outcomes as equilibrium outcomes in the recommendation game.

Keywords: Competing mechanisms; Collusion; Implementable (search for similar items in EconPapers)
JEL-codes: D82 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (43)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:148:y:2013:i:3:p:953-973

DOI: 10.1016/j.jet.2013.01.001

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