Robust Implementation with Costly Information

S-Tier
Journal: Review of Economic Studies
Year: 2025
Volume: 92
Issue: 1
Pages: 476-505

Authors (2)

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We construct mechanisms that can robustly implement any desired social choice function when (1) agents may incur a cost to learn the state of the world, (2) with small probability, agents’ preferences can be arbitrarily different from some baseline known to the mechanism designer, and (3) the mechanism designer does not know agents’ beliefs and higher-order beliefs about one another’s preferences. The mechanisms we propose have a natural interpretation and do not require the mechanism designer to be able to verify the state ex post. We also establish impossibility results for stronger notions of robust implementation.

Technical Details

RePEc Handle
repec:oup:restud:v:92:y:2025:i:1:p:476-505.
Journal Field
General
Author Count
2
Added to Database
2026-01-29