Article ID Journal Published Year Pages File Type
5072307 Games and Economic Behavior 2011 5 Pages PDF
Abstract
This paper investigates the extent to which rationalizable implementation depends on the implicit common knowledge restrictions usually embodied in traditional models. It is shown that under fairly general conditions such restrictions are without loss of generality in the following sense: If a mechanism M implements a social choice function f on a type space X, then M implements f assuming only that the agentsʼ k-order beliefs are among those described by an open set B containing X, while higher-order beliefs are completely unrestricted. The result is applied to direct implementation on payoff type spaces, and related to the weak (incentive compatible) implementation problem.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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