Locally robust implementation and its limits

Article dans une revue: We study a notion of locally robust implementation that captures the idea that the planner may know agentsʼ beliefs well, but not perfectly. Locally robust implementation is a weaker concept than ex-post implementation, but we show that no regular allocation function is locally robust implementable in generic settings with quasi-linear utility, interdependent and bilinear values, and multi-dimensional payoff types.

Auteur(s)

Philippe Jehiel, Moritz Meyer-Ter-Vehnc, Benny Moldovanu

Revue
  • Journal of Economic Theory
Date de publication
  • 2012
Mots-clés JEL
D82
Mots-clés
  • Robust implementation
  • Interdependent values
  • Multi-dimensional types
  • Perturbed beliefs
Pages
  • 2439-3452
Version
  • 1
Volume
  • 147