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Conservative-Bayesian Mechanism Design
Classical Bayesian mechanism design is "centralized," that is, the designer is assumed to know the distribution D from which the players' type profile has been drawn. We instead investigate a very "decentralized" Bayesian ...
Optimal Parametric Auctions
We study the problem of profit maximization in auctions of one good where the buyers' valuations are drawn from independent distributions. When these distributions are known to the seller, Myerson's optimal auction is a ...
We put forward a new class of mechanisms. In this extended abstract, we exemplify our approach only for single-good auctions in what we call a conservative-Bayesian setting. (Essentially, no common-knowledge about the ...