Economics and CPS Seminar mini-course: Asymmetric Information and Implementation (Part 2)

Date: Apr 20, 2016 12:00 pm – Apr 20, 2016 1:00 pm

April 20, 2016
Asymmetric Information and Implementation (Part 2)

I will briefly repeat Hurwicz '72 proof [slides 23-26] (With hidden info, truth telling is not achievable, and no efficient, individually rational, and incentive compatible privacy-preserving mechanism exists). We will then move to slide #31, discuss Maskin's implementation theorem, and examples of illustrative games with hidden information. Lastly, we will cover Myerson's examples of production with moral hazard, and the attendant trade-offs.

Literature: see slides 55-56 (links to papers included).

Submitted by Carolyn Winter on Thu, 11/02/2017 - 13:45