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Optimal robust allocation of private goods

Kiho Yoon ()

No 1803, Discussion Paper Series from Institute of Economic Research, Korea University

Abstract: We characterize the optimal robust mechanisms for the allocation of private objects, where robust mechanisms are those mechanisms that satisfy dominant strategy incentive compatibility, ex-post individual rationality, and ex-post no budget deficit, and optimal robust mechanisms are the ones that maximize the expected sum of players' payoffs among all robust mechanisms. With a certain assumption on the payoff of the lowest possible type, we provide a complete description of optimal robust mechanisms with any number of players and objects.

Keywords: robust mechanism design; dominant strategy; budget balance; ex-post individual rationality (search for similar items in EconPapers)
JEL-codes: C72 D47 D82 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gth and nep-mic
Date: 2018
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