Rationalizable Implementation

Dirk Bergemann, Stephen Morris and Olivier Tercieux

Chapter 11 in Robust Mechanism Design:The Role of Private Information and Higher Order Beliefs, 2012, pp 375-404 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractWe consider the implementation of social choice functions under complete information in rationalizable strategies. A strict version of the monotonicity condition introduced by Maskin is necessary under the solution concept of rationalizability. Assuming the social choice function is responsive, i.e., in distinct states it selects distinct outcomes, we show that strict Maskin monotonicity is also sufficient under a mild “no worst alternative” condition. In particular, no economic condition is required. We discuss how our results extend when the social choice function is not responsive.

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: Rationalizable implementation (2011)
Working Paper: Rationalizable Implementation (2011)
Working Paper: Rationalizable Implementation (2011)
Working Paper: Rationalizable Implementation (2010)
Working Paper: Rationalizable Implementation (2010)
Working Paper: Rationalizable Implementation (2009)
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