The Robustness of Robust Implementation

Moritz Meyer-ter-Vehn and Stephen Morris

Chapter 10 in Robust Mechanism Design:The Role of Private Information and Higher Order Beliefs, 2012, pp 357-373 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractWe show that a mechanism that robustly implements optimal outcomes in a one-dimensional supermodular environment continues to robustly implement ε-optimal outcomes in all close-by environments. Robust implementation of ε-optimal outcomes is thus robust to small perturbations of the environment. This is in contrast to ex-post implementation which is not robust in this sense as only trivial social choice functions are ex-post implementable in generic environments.

Keywords: Mechanism Design; Game Theory; Auction Theory; Implementation; Private Information; First and Higher-Order Belief; BayesNash Equilibrium; Ex Post Equilibrium; Rationalizability; Vickrey-Clarke-Groves Mechanisms; Private Value; Interdependent Value; Common Value; Belief-Free Mechanisms (search for similar items in EconPapers)
JEL-codes: C70 D0 (search for similar items in EconPapers)
Date: 2012
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Related works:
Journal Article: The robustness of robust implementation (2011)
Working Paper: The Robustness of Robust Implementation (2010)
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