Saglam, Ismail (1997): A note on Jackson's theorems in Bayesian implementation.
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This paper shows that in an incomplete information situation if the set of states of the society which occur with positive probability satisfies 'connection' condition, then closure condition will be satisfied by all social choice sets. It then follows from Jackson's (1991) two fundamental theorems that whenever 'connection' holds and there are at least three agents in the society, for the implementability of social choice sets in Bayesian equilibrium, incentive compatibility and Bayesian monotonicity conditions are both necessary and sufficient in economic environments whereas incentive compatibility and monotonicity-no-veto conditions are sufficient in noneconomic environments.
|Item Type:||MPRA Paper|
|Original Title:||A note on Jackson's theorems in Bayesian implementation|
|Keywords:||Bayesian implementation; incomplete information|
|Subjects:||D - Microeconomics > D7 - Analysis of Collective Decision-Making > D70 - General
D - Microeconomics > D7 - Analysis of Collective Decision-Making > D71 - Social Choice; Clubs; Committees; Associations
|Depositing User:||Ismail Saglam|
|Date Deposited:||19. Feb 2008 00:42|
|Last Modified:||02. Mar 2013 01:54|
Jackson, M.O. (1991): "Bayesian Implementation," Econometrica, 59, 461-477
Palfrey, T., and S. Srivastava (1987): "On Bayesian Implementable Allocations," Review of Economic Studies, 54, 193-208
Palfrey, T., and S. Srivastava (1989a): "Mechanism Design with Incomplete Information: A Solution to the Implementation Problem," Journal of Political Economy, 97, 668-691
Palfrey, T., and S. Srivastava (1989b): "Implementation with Incomplete Information in Exchange Economies," Econometrica, 57, 115-134
Postlewaite, A., and D. Schmeidler (1986): "Implementation in Differential Information Economies," Journal of Economic Theory, 39, 14-33
Available Versions of this Item
A Note on Jackson's Theorems in Bayesian Implementation. (deposited 21. Mar 2007)
- A note on Jackson's theorems in Bayesian implementation. (deposited 19. Feb 2008 00:42) [Currently Displayed]