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We consider robust virtual implementation, where robustness is the requirement that implementation succeed in all type spaces consistent with a given payoff type space as well as with a given space of first-order beliefs about the other agents’ payoff types. This last bit, which constitutes...
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We consider robust virtual implementation, where robustness is the requirement that implementation succeed in all type spaces consistent with a given payoff type space as well as with a given space of first-order beliefs about the other agents\' payoff types. This last bit, which constitutes our...
Persistent link: https://www.econbiz.de/10005572083
This paper offers a solution to King Solomon's problem of allocating an indivisible "prize" to two agents. We add time dimension to the original space of outcomes and construct a static mechanism similar to the one used in virtual implementation. The implementation is imminent: the mechanism...
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In this note, we study a version of a war of attrition when all participants have to experience the longest delay before the consumption takes place. We show that all strategies are iteratively dominated and there is no mixed strategy Nash equilibrium. However, this game has a well-defined best...
Persistent link: https://www.econbiz.de/10014161302
In this paper, we study full implementation problem by mechanisms that allow delay. The delay on the equilibrium path may be zero, infinitesimally small or a fixed positive number. In all these three cases, implementable rules are characterized by a monotonicity-like condition alone, including...
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