Locally robust implementation and its limits

• 成果类型: Article
• 署名作者: Jehiel, Philippe; Meyer-ter-Vehn, Moritz; Moldovanu, Benny
• 署名单位: University of London; University College London; University of California System; University of California Los Angeles; University of Bonn
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2012.05.012
• 发表日期: 2012
• 页码: 2439-2452
• 关键词: Robust implementation; interdependent values; Multi-dimensional types; Perturbed beliefs

摘要

We study a notion of locally robust implementation that captures the idea that the planner may know agents' beliefs well, but not perfectly. Locally robust implementation is a weaker concept than ex-post implementation, but we show that no regular allocation function is locally robust implementable in generic settings with quasi-linear utility, interdependent and bilinear values, and multi-dimensional payoff types. (C) 2012 Elsevier Inc. All rights reserved.