Econometric Society 57th European Meeting
25th August 2002 - 28th August 2002, Venice, Italy

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EX-POST IMPLEMENTATION WITH INTERDEPENDENT VALUATIONS


Category: Economic Theory
Mechanism Design
Sunday 25th August 2002, 09:30 - 11:00, Room: 4.6
Session Chair(s): David Wettstein, Ben Gurion University, ISRAEL

Presenter(s): Meyer-ter-Vehn, Moritz

Co-Author(s): Moldovanu, Benny

Keyword(s): ex-post equilibrium, interdependent valuation, multi-dimensional signals, second best

JEL(s): D44, D70, D82

Abstract:

We consider a social choice setting with multidimensional signals and interdependent valuations. Such frameworks have been recently and increasingly used in order to study multi-object auctions. We obtain concise characterizations of ex-post implementable (not necessarily efficient) social choice functions in terms of affine functions that associate a weight to each agent and to each alternative. These characterizations can greatly reduce the complexity of the search for a constrained efficient (i.e., second best) mechanism in the generic cases where efficient outcomes cannot be implemented.


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Paper Reference Number: 759

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Econometric Society
57th European Meeting
25th August 2002 - 28th August 2002, Venice, Italy

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