Bugs in the proofs of revelation principle

Wu, Haoyang (2010): Bugs in the proofs of revelation principle.

Abstract

In the field of mechanism design, the revelation principle has been known for decades. Myerson, Mas-Colell, Whinston and Green gave formal proofs of the revelation principle respectively. However, in this paper, I argue that there are bugs hidden in their proofs.

• Item Type: MPRA Paper
• Language: English
• Keywords: Revelation principle; Mechanism design; Implementation theory.
• Subjects: D - Microeconomics > D7 - Analysis of Collective Decision-Making > D71 - Social Choice ; Clubs ; Committees ; Associations; C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C72 - Noncooperative Games

References

1. A. Mas-Colell, M.D. Whinston and J.R. Green, Microeconomic Theory, Oxford University Press, 1995.

2. R. Myerson, Incentive compatibility and the bargaining problem, Econometrica, vol.47, 61-73, 1979.

3. R. Gibbons, A Primer in Game Theory, Prentice Hall Press, 1992.