Mechanism design to the budget constrained buyer: a canonical mechanism approach

Naoki Kojima ()

International Journal of Game Theory, 2014, vol. 43, issue 3, 693-719

Abstract: The present paper studies the problem on multi-dimensional mechanisms in which the buyer’s taste and budget are his private information. The paper investigates the problem by way of a canonical mechanism in the traditional one-dimensional setting: function of one variable, the buyer’s taste. In our multi-dimensional context, this is an indirect mechanism. The paper characterizes the optimal canonical mechanism and shows that this approach loses no generality with respect to the direct (multi-dimensional) mechanism. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Multi-dimensional mechanism; Indirect mechanism; Budget constraint; Revelation principle; Taxation principle; D82; D86 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s00182-013-0403-9

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