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Creator: Allen, Beth Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 226 Abstract:
This paper surveys implementation theory when players have incomplete or asymmetric information, especially in economic environments. After the basic problem is introduced, the theory of implementation is summarized. Some coalitional considerations for implementation problems are discussed. For economies with asymmetric information, cooperative games based on incentive compatibility constraints or Bayesian incentive compatible mechanisms are derived and examined.
Palabra clave: Mechanisms, Incentive Compatibility, Bayesian-Nash Revelation Principle, Incomplete Information, Cooperative Games, Core, Implementation, Asymmetric Information, and Nontransferable Utility Tema: C72 - Noncooperative Games, D51 - Exchange and Production Economies, D82 - Asymmetric and Private Information; Mechanism Design, C71 - Cooperative Games, and D71 - Social Choice; Clubs; Committees; Associations