Locally robust implementation and its limits

Philippe Jehiel, Moritz Meyer-ter-Vehn, Benny Moldovanu

Research output: Contribution to journalArticlepeer-review

Abstract

We study a notion of locally robust implementation that captures the idea that the planner may know agents' 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.

Original languageEnglish
Pages (from-to)2439-2452
Number of pages14
JournalJournal of Economic Theory
Volume147
Issue number6
DOIs
StatePublished - Nov 2012
Externally publishedYes

Keywords

  • Interdependent values
  • Multi-dimensional types
  • Perturbed beliefs
  • Robust implementation

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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