Bayesian and Dominant-Strategy Implementation in the Independent Private-Values Model

Alejandro Manelli, Daniel R. Vincent

Research output: Contribution to journalArticlepeer-review

44 Scopus citations

Abstract

We prove-in the standard independent private-values model-that the outcome, in terms of interim expected probabilities of trade and interim expected transfers, of any Bayesian mechanism can also be obtained with a dominant-strategy mechanism.

Original languageEnglish (US)
Pages (from-to)1905-1938
Number of pages34
JournalEconometrica
Volume78
Issue number6
DOIs
StatePublished - Nov 2010

Keywords

  • Adverse selection
  • Auctions
  • Bayesian implementations
  • Bilateral trade
  • Dominant-strategy implementation
  • Incentive compatibility
  • Independent private values
  • Mechanism design

ASJC Scopus subject areas

  • Economics and Econometrics

Fingerprint

Dive into the research topics of 'Bayesian and Dominant-Strategy Implementation in the Independent Private-Values Model'. Together they form a unique fingerprint.

Cite this