Mechanism design with information acquisition
نویسندگان
چکیده
منابع مشابه
Information Acquisition and Efficient Mechanism Design∗
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 which provides the efficient incentives for information acquisition ex ante and implements the efficient allocation conditional on the private information ex post. It is shown that in every private value enviro...
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Consider a mechanism design setting in which agents acquire costly information about an unknown, payoff-relevant state of nature. Information gathering is covert and the agents’ information is correlated. We investigate conditions under which (i) efficiency and (ii) full surplus extraction are Bayesian incentive compatible and interim individually rational. JEL Classification: D44, D82
متن کاملMechanism Design with Endogenous Information Acquisition, Endogenous Status and Endogenous Quantities
Mechanism Design with Endogenous Information Acquisition, Endogenous Status and Endogenous Quantities
متن کاملInformation in Mechanism Design
We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We specifically consider information management in the form of acquisition of new information or disclosure of existing information. Second, we argue that in the pre...
متن کاملOptimal Auctions with Information Acquisition Optimal Auctions with Information Acquisition *
This paper studies optimal auction design in a private value setting with endogenous information acquisition. First, we develop a general framework for modeling information acquisition when a seller wants to sell an object to one of several potential buyers who can each gather information about their valuations prior to participation. We then show that under certain conditions, standard auction...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2016
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-016-0964-5