If p is an unknown probability parameter, prior ignorance of its value is appropriately expressed by the prior probability density distribution ) 1 ( 1 ) ( p p p f − ∝ . That is the only distribution that remains invariant under transformations that convert the original inference problem into another that should look identical to a truly ignorant observer. This invariance principle for specifyi...

In the standard formulation of mechanism design, a key assumption is that the designer has reliable information and technology to determine a prior distribution over types of the agents. In the meanwhile, as pointed out by the Wilson’s Principle, a mechanism should reply as little as possible on the accuracy of prior type distribution. In this paper, we put forward a simple model to formalize a...