Title of article :
Deterministic mechanisms and the revelation principle
Author/Authors :
Roland Strausz، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2003
Abstract :
This note shows: (1) the classical revelation principle does not hold for deterministic mechanisms, (2) with one agent, a revelation principle in terms of payoffs holds, and (3) with more than one agent the result fails and direct mechanisms may by suboptimal.
Keywords :
Revelation principle , Optimal mechanisms , Adverse Selection
Journal title :
Economics Letters
Journal title :
Economics Letters