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We investigate intertemporal planning problems as a way of gaining understanding of the characteristics of individual decision-makers and the choice options presented to them. A frequent simplifying assumption that is made in studies of this sort is that choice of options that yield lower...
Persistent link: https://www.econbiz.de/10013465810
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This paper studies the design of mechanisms that are robust to misspecification. We introduce a novel notion of robustness that connects a variety of disparate approaches and study its implications in a wide class of mechanism design problems. This notion is quantifiable, allowing us to...
Persistent link: https://www.econbiz.de/10013241735
This paper studies a robust version of the classic surplus extraction problem, in which the designer knows only that the beliefs of each type belong to some set, and designs mechanisms that are suitable for all possible beliefs in that set. We derive necessary and sufficient conditions for full...
Persistent link: https://www.econbiz.de/10012908507
Persistent link: https://www.econbiz.de/10013193311