Seminario Internal Seminar: Giacomo Rubbini (visiting from Brown)

Abstract

The Bayesian implementation literature has identified in Bayesian Incentive Compatibility (BIC) and Bayesian Monotonicity (BM) two key conditions that a social choice function must satisfy to be fully implemented by a social planner. I characterize the class of solution concepts such that BIC is necessary for full implementation of functions, and I find we cannot expect significantly more permissive results by dropping the rational expectations assumption and moving to non-equilibrium models. Preliminary results suggest the same may be true for a BM-like condition as well.