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| Author: | Baliga, S. |
| Title: | Implementation in economic environments with incomplete information: the use of multi-stage games |
| Journal: | Games and Economic Behavior
1999 : MAY, VOL. 27:2, p. 173-183 |
| Index terms: | GAMES ECONOMIC BEHAVIOUR IMPLEMENTATION |
| Language: | eng |
| Abstract: | This paper shows that, in economic environments with incomplete information, incentive compatibility and a preference reversal condition are sufficient for implementation in sequential equilibrium. Implementation theory is concerned with the design of procedures to enable a central authority to realize its goals in an environment where it does not know the agents' preferences. One interpretation of the theory is to see the central authority as a social planner who has decided on a method of aggregating agents' preferences into social choices. |
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