Rational robustness for mechanism design
Name
Chen, Micali (2009) Rational robustness for mechanism design.pdf
Description
Author's final manuscript.
Size
2.66 MB
Format
Adobe PDF
Checksum (MD5)
f8f9b99bb72420375b44df1b063737fd
Author(s)
Chen, Jing
Micali, Silvio
Date Issued
November 10, 2009
Publisher
© Massachusetts Institute of Technology
Citation
Chen, J., & Micali, S. (2009). Rational robustness for mechanism design (ECIR Working Paper No. 2009-5, first draft). MIT Political Science Department.
Version
Author's final manuscript.
Series/Report no.
ECIR Working Paper No. 2009-5
Abstract
The currently prevailing equilibrium-based approach to mechanism design suffers from a plurality of fundamental problems, and new conceptual frameworks are needed to solve or sufficiently alleviate them.
In this paper, we put forward rational robustness, a new solution concept implementation notion that is not equilibrium-based; prove its fundamental structural theorems; and compare it with prior notions.
Our notion of implementation is specifically built so as to be robust against the problem of equilibrium selection. We prove it robust against other fundamental problems as well in different papers.
Description
First Draft.
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Attribution-NonCommercial-NoDerivs 3.0 United States
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