A Tight Sufficient Condition for Recursive Formulation of Dynamic Implementation Problems

Eric Mengus and Georgy Lukyanov ()

No 1151, HEC Research Papers Series from HEC Paris

Abstract: This note explores conditions that admit recursive representation for a class of dynamic mechanism design problems. We derive a tight sufficient condition, called the common state property (CSP), which ensures that temporary incentive constraints guarantee implementability, and so allows to characterize the principal's problem recursively. The condition imposes no restrictions on agent's preferences and only concerns the properties of the evolution of private information.

Keywords: First order approach; Dynamic mechanism design (search for similar items in EconPapers)
JEL-codes: D30 D80 D82 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2016-06-09
New Economics Papers: this item is included in nep-des and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:ebg:heccah:1151

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