Year: 2012
Type: article
Abstract: We provide a solution to the problem of mechanism selection by a privately informed principal in generalized-private-value environments. In a broad class of these environments, the mechanism-selection game has a perfect-Bayesian equilibrium that has a strong neologism-proofness property. Equilibrium allocations that satisfy this property are characterized in terms of the players' incentive and participation constraints, and can be computed using standard methods.
Source: Theoretical Economics
DOI: 10.3982/te787
Authors: Tymofiy Mylovanov, Thomas Tröger
Institutions: University of Pennsylvania, University of Mannheim
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W1487041119