Ex-post implementation with interdependent valuations

Moldovanu, Benny ; Meyer-ter-Vehn, Moritz

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URL: http://ub-madoc.bib.uni-mannheim.de/2792
URN: urn:nbn:de:bsz:180-madoc-27929
Document Type: Working paper
Year of publication: 2002
The title of a journal, publication series: None
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Sonderforschungsbereich 504 > Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung (Laufzeit 1997 - 2008)
Subject: 330 Economics
Subject headings (SWD): Public-Choice-Theorie , Multikriteria-Entscheidung , Informationsökonomie , Spieltheorie , Auktionstheorie
Abstract: We consider a social choice setting with multidimensional signals and interdependent valuations. Such frameworks have been recently and increasingly used in order to study multi-object auctions. We obtain concise characterizations of ex-post implementable (not necessarily efficient) social choice functions in terms of affine functions that associate a weight to each agent and to each alternative. These characterizations can greatly reduce the complexity of the search for a constrained efficient (i.e., second best) mechanism in the generic cases where efficient outcomes cannot be implemented.
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