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Full-Text Articles in Social and Behavioral Sciences
Interim Rationalizable Implementation Of Functions, Takashi Kunimoto, Rene Saran, Roberto Serrano
Interim Rationalizable Implementation Of Functions, Takashi Kunimoto, Rene Saran, Roberto Serrano
Research Collection School Of Economics
This paper investigates rationalizable implementation of social choice functions (SCFs) in incomplete information environments. We identify weak interim rationalizable monotonicity (weak IRM) as a novel condition and show that weak IRM is a necessary and almost sufficient condition for rationalizable implementation. We show by means of an example that interim rationalizable monotonicity (IRM), found in the literature, is strictly stronger than weak IRM as its name suggests, and that IRM is not necessary for rationalizable implementation, as had been previously claimed. The same example also demonstrates that Bayesian monotonicity, the key condition for full Bayesian implementation, is not necessary for …
Rationalizable Incentives: Interim Implementation Of Sets In Rationalizable Strategies, Takashi Kunimoto, Roberto Serrano
Rationalizable Incentives: Interim Implementation Of Sets In Rationalizable Strategies, Takashi Kunimoto, Roberto Serrano
Research Collection School Of Economics
This paper investigates rationalizable implementation of social choice sets (SCSs) in incomplete information environments. We identify rationalizable incentive compatibility (RIC) as its key condition, argue by means of example that RIC is strictly weaker than the standard Bayesian incentive compatibility (BIC), and show that RIC reduces to BIC when we only consider single-valued SCSs (i.e., social choice functions or SCFs). We next identify additional necessary conditions and, essentially closing the gap be-tween necessity and sufficiency, obtain a sufficiency result for rationalizable implementation in general environments. We also characterize a well-studied class of economic environments in which RIC is essentially the …