کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5071417 | 1477058 | 2017 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Implementation under ambiguity
ترجمه فارسی عنوان
پیاده سازی تحت ابهام
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
We introduce the idea of implementation under ambiguity. In particular, we study maximin efficient notions for an ambiguous asymmetric information economy (i.e., economies where agents' preferences are maximin à laWald, 1950). The interest on the maximin preferences lies in the fact that maximin efficient allocations are always incentive compatible (de Castro and Yannelis, 2009), a result which is false with Bayesian preferences. A noncooperative notion called maximin equilibrium is introduced which provides a noncooperative foundation for individually rational and maximin efficient notions. Specifically, we show that given any arbitrary individually rational and ex-ante maximin efficient allocation, there is a direct revelation mechanism that yields the efficient allocation as its unique maximin equilibrium outcome. Thus, an incentive compatible, individually rational and efficient outcome can be reached by means of noncooperative behavior under ambiguity.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Games and Economic Behavior - Volume 101, January 2017, Pages 20-33
Journal: Games and Economic Behavior - Volume 101, January 2017, Pages 20-33
نویسندگان
Luciano I. de Castro, Zhiwei Liu, Nicholas C. Yannelis,