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In the field of mechanism design, the revelation principle has been known for decades. Myerson, Mas-Colell, Whinston and Green gave formal proofs of the revelation principle. However, in this paper, we argue that there are serious bugs hidden in their proofs.
Persistent link: https://www.econbiz.de/10008531910
This paper gives two examples to break through the revelation principle. Furthermore, the revenue equivalence theorem does not hold.
Persistent link: https://www.econbiz.de/10009151118
Bayesian implementation concerns decision making problems when agents have incomplete information. This paper proposes that the traditional sufficient conditions for Bayesian implementation shall be amended by virtue of a quantum Bayesian mechanism. In addition, by using an algorithmic Bayesian...
Persistent link: https://www.econbiz.de/10009019712