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| Author: | Baliga, S. Sjostrom, T. |
| Title: | Interactive implementation |
| Journal: | Games and Economic Behavior
1999 : APR, VOL. 27:1, p. 38-63 |
| Index terms: | GAMES ECONOMIC BEHAVIOUR IMPLEMENTATION |
| Language: | eng |
| Abstract: | The authors suppose the principal not only designs a mechanism, but can participate as a player. The result is a Bayesian model where one player, the principal, has no information, and the remaining players have complete information. The authors find a necessary and sufficient condition for implementation. In contrast to the standard model, in the exchange economy many cardinal rules, such as the utilitarian social welfare function, satisfy this condition and hence can be implemented. |
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