Robust Private Supply of a Public Good

Wanchang Zhang

Papers from arXiv.org

Abstract: We study the mechanism design problem of selling a public good to a group of agents by a principal in the correlated private value environment. We assume the principal only knows the expectations of the agents' values, but does not know the joint distribution of the values. The principal evaluates a mechanism by the worst-case expected revenue over joint distributions that are consistent with the known expectations. We characterize maxmin public good mechanisms among dominant-strategy incentive compatible and ex-post individually rational mechanisms for the two-agent case and for a special $N$-agent ($N>2$) case.

Date: 2022-01, Revised 2022-01
New Economics Papers: this item is included in nep-des and nep-mic
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