Robust Rationalizable Implementation

10 Pages Posted: 28 Oct 2009

See all articles by Alfredo Di Tillio

Alfredo Di Tillio

Bocconi University - Department of Economics

Date Written: July 9, 2009

Abstract

This paper investigates the extent to which rationalizable implementation depends on the implicit common knowledge restrictions usually embodied in traditional models. It is shown that such restrictions are largely without loss of generality: under fairly general conditions, a mechanism implements a social choice function f on a type space X if and only if there exists k\geq1 such that the same mechanism implements f under the weaker assumption that the agents' k-order beliefs are among those described by X, while higher-order beliefs are unrestricted. The result is applied to direct implementation on payoff type spaces, and related to the partial (incentive compatible) implementation problem.

Suggested Citation

Di Tillio, Alfredo, Robust Rationalizable Implementation (July 9, 2009). Available at SSRN: https://ssrn.com/abstract=1494867 or http://dx.doi.org/10.2139/ssrn.1494867

Alfredo Di Tillio (Contact Author)

Bocconi University - Department of Economics ( email )

Milan
Italy

HOME PAGE: http://mypage.unibocconi.eu/alfredoditillio

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