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Locally robust implementation and its limits

Abstract : We study a notion of locally robust implementation that captures the idea that the planner may know agentsʼ beliefs well, but not perfectly. Locally robust implementation is a weaker concept than ex-post implementation, but we show that no regular allocation function is locally robust implementable in generic settings with quasi-linear utility, interdependent and bilinear values, and multi-dimensional payoff types.
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Submitted on : Sunday, April 14, 2013 - 9:23:05 PM
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Philippe Jehiel, Moritz Meyer-Ter-Vehnc, Benny Moldovanu. Locally robust implementation and its limits. Journal of Economic Theory, 2012, 147 (6), pp.2439-3452. ⟨10.1016/j.jet.2012.05.012⟩. ⟨hal-00813046⟩



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