Bayesian and Dominant-Strategy Implementation in the Independent Private-Values Model
Alejandro M. Manelli, Daniel R. Vincent
Econometrica · 2010 · Volume 78 · Issue 6
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, ofanyBayesian mechanism can also be obtained with a dominant-strategy mechanism.
Keywords
Independent private values, incentive compatibility, Bayesian implementations, dominant-strategy implementation, auctions, adverse selection, bilateral trade, mechanism design
Enable JavaScript for citation tools and additional paper interactions.