Locally robust implementation and its limits

We study a notion of locally robust implementation that captures the idea that the planner may know agentsʼ beliefs well, but not perfectly. Locally robust implementation is a weaker concept than ex-post implementation, but we show that no regular allocation function is locally robust implementable in generic settings with quasi-linear utility, interdependent and bilinear values, and multi-dimensional payoff types.

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Year of publication:	2012
Authors:	Jehiel, Philippe ; Meyer-ter-Vehn, Moritz ; Moldovanu, Benny
Published in:	Journal of Economic Theory. - Elsevier, ISSN 0022-0531. - Vol. 147.2012, 6, p. 2439-2452
Publisher:	Elsevier
Subject:	Robust implementation \| Interdependent values \| Multi-dimensional types \| Perturbed beliefs

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Type of publication:	Article
Classification:	D82 - Asymmetric and Private Information
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011042947