Dynamic mechanism design on social networks

• 成果类型: Article
• 署名作者: Meng, Dawen; Sun, Lei; Tian, Guoqiang
• 署名单位: Shanghai University of Finance & Economics; Shanghai Lixin University of Accounting & Finance; Texas A&M University System; Texas A&M University College Station; Hubei University of Economics; Shanghai University of Finance & Economics
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2021.10.007
• 发表日期: 2022
• 页码: 84-120
• 关键词: Dynamic mechanism design; social network; nonlinear pricing; Experience good; Key node; Key link; Network intervention

摘要

This paper studies a mechanism design problem with networked agents and stochastically evolving private information. In contrast to the canonical mechanism design theory focusing only on information asymmetry, we also pay attention to the topology of social network among agents. We find that the standard first-order approach for mechanism design is invalid in dynamic environment. As a remedy, a novel ironing technique is proposed, which produces a perfectly sorting allocation. Based on the optimal dynamic mechanism obtained, we define and compare some important nodes and edges in a network for different ranges of synergy parameter. We further discuss the network intervention problem, in which the principal can intervene to change the ex-ante distribution of individual types. (C) 2021 Elsevier Inc. All rights reserved.