Undominated mechanisms

Tilman Börgers, Jiangtao Li and Kexin Wang
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Tilman Börgers: University of Michigan
Jiangtao Li: Singapore Management University
Kexin Wang: Singapore Management University

No 05-2025, Economics and Statistics Working Papers from Singapore Management University, School of Economics

Abstract: We study the design of mechanisms when the designer faces multiple plausible scenarios and is uncertain about the true scenario. A mechanism is dominated by another if the latter performs at least as well in all plausible scenarios and strictly better in at least one. A mechanism is undominated if no other feasible mechanism dominates it. We show how analyzing undominated mechanisms could be useful and illustrate the tractability of characterizing such mechanisms. This approach provides an alternative criterion for mechanism design under non-Bayesian uncertainty, complementing existing methods.

Keywords: Robust Mechanism Designl; Undominated Mechanisms; Maxmin Approrach; Regret Minimization; Second-pric (search for similar items in EconPapers)
Pages: 56
Date: 2025-07-01
New Economics Papers: this item is included in nep-mic
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