منابع مشابه
The Revelation Principle
The strategic interactions among the designer of a mechanism and its participants can be modeled as a multi-stage game. The designer moves first by selecting a mechanism. The participants observe the mechanism, and move thereafter. For ease of exposition, we restrict our present attention to a two-stage game, in which the participants play a simultaneous-move (i.e., one-shot) game in the second...
متن کاملNotes on the Revelation Principle
This set of lecture notes covers a general model of adverse selection as well as a leading example that of a price discriminating monopolist due to Maskin and Riley (1984). At the end of this unit, students should understand the application of the revelation principal to this class of models, the general solution techniques, and the key economic trade-o¤ e¢ ciency versus information rent sav...
متن کاملThe revelation principle and regularity conditions
The revelation principle asserts that every outcome brought by a mechanism is realized by a truthful direct mechanism. The present paper investigates the regularity conditions of these two mechanisms in the continuous space of the agent’s type. It questions what regularity condition a general mechanism confers upon a direct mechanism through the revelation principle. By so doing, we elucidate t...
متن کاملIndirect Mechanisms and the Revelation Principle
Example 1.3. The English auction consists of a number of rounds. On round k = 1, 2, . . ., the auctioneer offers the good at price p = ke, asking all bidders if they are interested in the good at that price. The auction continues so long as more than one bidder is interested. The auction terminates, say at round t, when either exactly one or no bidders remain interested. If there is one interes...
متن کاملEarnings Management and the Revelation Principle
When the Revelation Principle (RP) holds, managing earnings confers no advantage over revelation. We construct an explanation for earnings management that is based on limitations on owners’ ability to make commitments (a violation of the RP’s assumptions). Traditionally, earnings management is seen as sneaky managers pulling the wool over the eyes of gullible owners by manipulating accruals; ou...
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ژورنال
عنوان ژورنال: The Biblical World
سال: 1900
ISSN: 0190-3578
DOI: 10.1086/472685