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Rationalizable Implementation in Finite Mechanisms

Yi-Chun Chen (), Takashi Kunimoto, Yifei Sun () and Siyang Xiong ()
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Yi-Chun Chen: National University of Singapore
Yifei Sun: University of International Business and Economics
Siyang Xiong: University of California, Riverside

No 5-2020, Economics and Statistics Working Papers from Singapore Management University, School of Economics

Abstract: We prove that the Maskin monotonicity condition (by Bergemann, Morris, and Tercieux (2011)) fully characterizes exact rationalizable implementation in an environ-ment with lotteries and transfers. Different from previous papers, our approach possesses many appealing features simultaneously, e.g., infinite mechanisms with no integer game or modulo game are used; no transfer is imposed on any rationalizable profile;the message space is small; the implementation is robust to information perturbationsand continuous in the sense of Oury and Tercieux (2012).

Keywords: Complete information; continuous implementation; implementation; infor-mation perturbations; Maskin monotonicity; rationalizability; social choice function (search for similar items in EconPapers)
JEL-codes: C72 D78 D82 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2020-02-11
New Economics Papers: this item is included in nep-mic and nep-sea
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