Econometrica: May 2002, Volume 70, Issue 3

Information Acquisition and Efficient Mechanism Design

https://doi.org/10.1111/1468-0262.00317
p. 1007-1033

Dirk Bergemann, Juuso Välimäki

We consider a general mechanism design setting where each agent can acquire (covert) information before participating in the mechanism. The central question is whether a mechanism exists that provides the efficient incentives for information acquisition ex‐ante and implements the efficient allocation conditional on the private information ex‐post.
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