A Necessary Condition For Robust Implementation
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A Necessary Condition For Robust Implementation
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Author : Takuro Yamashita
language : en
Publisher: Stanford University
Release Date : 2011
A Necessary Condition For Robust Implementation written by Takuro Yamashita and has been published by Stanford University this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Mechanism design theory examines which social objectives (such as efficiency, fairness, stability, and so on) can be achieved when agents have private information. In most of the papers in the mechanism design literature, it has been the standard approach to assume that the agents play a Bayesian-Nash equilibrium (typically with a ``common prior'') to predict the possible outcomes of mechanisms. However, this approach is often criticized due to its sensitivity of prediction to the assumptions on the agents' beliefs. Given these criticisms, some researchers have investigated robust mechanisms to uncertainty about the agents' beliefs, but the standard approach is to restrict attention to dominant-strategy mechanisms. This approach proves to be restrictive, especially in settings that require a balanced budget. In this dissertation, we consider similar robust approaches, but we do not restrict attention only to dominant-strategy mechanisms. In Chapter 2, we provide an example that illustrates a difference between the dominant strategy approach and the other robust implementation approaches. Specifically, we consider expected welfare maximization in a bilateral trading example with voluntary participation and balanced budget. Chapter 3 provides some general findings. First, we show that any social choice correspondence that is implementable in admissibility must have a ``tree dominance property'': For any profile of ``directed trees'' on each agent's type space, the social choice correspondence must have a selection that satisfies dominant-strategy incentive compatibility along all edges of these trees. Also, we discuss the relationships among different robust implementation concepts. In Chapter 4, we apply these theoretical findings to some economic examples. In general, the tree dominance property may not be a sufficient condition. In applications, we guess which tree dominance conditions are the ``binding'' conditions, and solve a relaxed problems subject to those tree dominance conditions. In some cases, the allocation rule that solves the relaxed problem is proved to be dominant-strategy incentive compatible, which means that dominant-strategy mechanisms cannot be robustly improvable. Even if the solution is not dominant-strategy incentive compatible, we can sometimes verify that this allocation rule can be used as a revelation mechanism that actually robustly implements the desired social choice correspondence. As specific applications, we study (i) bilateral trading settings with balanced budget, (ii) quasi-linear environments without balanced budget, and (iii) implementation of unique desirable allocation rules.
Robust Implementation
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Author : Dirk Bergemann
language : en
Publisher:
Release Date : 2005
Robust Implementation written by Dirk Bergemann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Robust Implementation In General Mechanisms
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Author : Dirk Bergemann
language : en
Publisher:
Release Date : 2008
Robust Implementation In General Mechanisms written by Dirk Bergemann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
A social choice function is robustly implemented if every equilibrium on every type space achieves outcomes consistent with it. We identify a robust monotonicity condition that is necessary and (with mild extra assumptions) sufficient for robust implementation.Robust monotonicity is strictly stronger than both Maskin monotonicity (necessary and almost sufficient for complete information implementation) and ex post monotonicity (necessary and almost sufficient for ex post implementation). It is equivalent to Bayesian monotonicity on all type spaces.
The Role Of The Common Prior In Robust Implementation
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Author : Dirk Bergemann
language : en
Publisher:
Release Date : 2007
The Role Of The Common Prior In Robust Implementation written by Dirk Bergemann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We consider the role of the common prior for robust implementation in an environment with interdependent values. Specifically, we investigate a model of public good provision which allows for negative and positive informational externalities. In the corresponding direct mechanism, the agents' reporting strategies are strategic complements with negative informational externalities and strategic substitutes with positive informational externalities.We derive the necessary and sufficient conditions for robust implementation in common prior type spaces and contrast this with our earlier results without the common prior. In the case of strategic complements the necessary and sufficient conditions for robust implementation do not depend on the existence of a common prior. In contrast, with strategic substitutes, the implementation conditions are much weaker under the common prior assumption.
Robust Mechanism Design
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Author : Dirk Bergemann
language : en
Publisher: World Scientific
Release Date : 2012
Robust Mechanism Design written by Dirk Bergemann and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Advances In Economics And Econometrics
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Author : Econometric Society. World Congress
language : en
Publisher:
Release Date : 2006-08-14
Advances In Economics And Econometrics written by Econometric Society. World Congress and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-08-14 with Business & Economics categories.
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Corporate Value Of Enterprise Risk Management
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Author : Sim Segal
language : en
Publisher: John Wiley & Sons
Release Date : 2011-02-11
Corporate Value Of Enterprise Risk Management written by Sim Segal and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-11 with Business & Economics categories.
The ultimate guide to maximizing shareholder value through ERM The first book to introduce an emerging approach synthesizing ERM and value-based management, Corporate Value of Enterprise Risk Management clarifies ERM as a strategic business management approach that enhances strategic planning and other decision-making processes. A hot topic in the wake of a series of corporate scandals as well as the financial crisis Looks at ERM as a way to deliver on the promise of balancing risk and return A practical guide for corporate Chief Risk Officers (CROs) and other business professionals seeking to successfully implement ERM ERM is here to stay. Sharing his unique insights and experiences as a recognized global thought leader in this field, author Sim Segal offers world-class guidance on how your business can successfully implement ERM to protect and increase shareholder value.
Game Theory
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Author : Steven N. Durlauf
language : en
Publisher: Springer
Release Date : 2016-07-14
Game Theory written by Steven N. Durlauf and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-14 with Literary Criticism categories.
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Delayed Transitional Justice
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Author : Mariana S. Mendes
language : en
Publisher: Taylor & Francis
Release Date : 2023-07-24
Delayed Transitional Justice written by Mariana S. Mendes and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-24 with Law categories.
This book addresses the issue of the timing of transitional justice policies in countries that had negotiated transitions from authoritarianism to democracy. Why are transitional justice measures often being implemented decades after the events they refer to? More specifically, what combination of factors leads to the implementation of transitional justice policies at certain moments in time? And, what explains countries’ different choices and trajectories? To address these questions, this book pursues a comparative analysis of three cases: comparing a case of ‘robust’ implementation of transitional justice measures (Uruguay), a case where only victim-centered measures were approved (Spain), and a case that sits in between these two (Brazil). Through an in-depth empirical analysis of these specific country-cases, and focusing on seven different transitional justice initiatives, the book identifies the determinants behind delayed transitional justice policies and explains why such policies are more robust in some settings than in others. In doing so, it provides a holistic account of post-transitional justice outcomes, offering more general conclusions and insights about the study of the drivers of transitional justice. This book will appeal to scholars and students of transitional justice in politics, law, and sociology, as well as to policymakers involved in the implementation and administration of transitional justice measures.
The Routledge Handbook Of The Computational Mind
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Author : Mark Sprevak
language : en
Publisher: Routledge
Release Date : 2018-09-04
The Routledge Handbook Of The Computational Mind written by Mark Sprevak and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-04 with Philosophy categories.
Computational approaches dominate contemporary cognitive science, promising a unified, scientific explanation of how the mind works. However, computational approaches raise major philosophical and scientific questions. In what sense is the mind computational? How do computational approaches explain perception, learning, and decision making? What kinds of challenges should computational approaches overcome to advance our understanding of mind, brain, and behaviour? The Routledge Handbook of the Computational Mind is an outstanding overview and exploration of these issues and the first philosophical collection of its kind. Comprising thirty-five chapters by an international team of contributors from different disciplines, the Handbook is organised into four parts: History and future prospects of computational approaches Types of computational approach Foundations and challenges of computational approaches Applications to specific parts of psychology. Essential reading for students and researchers in philosophy of mind, philosophy of psychology, and philosophy of science, The Routledge Handbook of the Computational Mind will also be of interest to those studying computational models in related subjects such as psychology, neuroscience, and computer science.