The context in which a mechanism is defined and meant to operate plays an important role, and in more than one way. We advocate a contextual approach to mechanism design, that extends to both non-classical aspects of decision and of the physical and information-theoretic environment in which the...

We study the certification role of fairness opinions in corporate transactions in a simple non-cooperative setting with asymmetric information and possibly misaligned managerial incentives, and discuss the effect of different regulatory scenarios. Specifically, we compare three settings: one in...