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Bayesian and Dominant‐Strategy Implementation in the Independent Private‐Values Model
Author(s) -
Manelli Alejandro M.,
Vincent Daniel R.
Publication year - 2010
Publication title -
econometrica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 16.7
H-Index - 199
eISSN - 1468-0262
pISSN - 0012-9682
DOI - 10.3982/ecta8025
Subject(s) - interim , outcome (game theory) , bayesian probability , economics , econometrics , mechanism (biology) , mathematical economics , mathematics , statistics , political science , philosophy , epistemology , law
We prove—in the standard independent private‐values model—that the outcome, in terms of interim expected probabilities of trade and interim expected transfers, of any Bayesian mechanism can also be obtained with a dominant‐strategy mechanism.