Econometrica: May 2002, Volume 70, Issue 3
Information Acquisition and Efficient Mechanism Design
Dirk Bergemann, Juuso VälimäkiWe 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.
Log In To View Full Content