Passer à la navigation principale Passer à la recherche Passer au contenu principal

On the implementation of the median

  • UNSW Business School
  • University of Cyprus

Résultats de recherche: Contribution à un journalArticleRevue par des pairs

Résumé

In the single-peaked domain, the median rule is strategy-proof but not implementable in (Bayes–)Nash equilibrium by its associated direct mechanism. We define the value-based median mechanism that implements the median rule in (Bayes–)Nash equilibrium in the single-peaked domain under complete and incomplete information. Such a mechanism selects the median of the profile of different values announced by the agents (i.e., ignoring redundant announcements). The value-based median does not depend on agents’ beliefs (in line with robust mechanism design). In the case of incomplete information, it induces truthful revelation of preferences (in line with strategy-proofness) for almost all peaks. We present extensions of our results to generalized median rules and finite policy spaces and their limitations.

langue originaleAnglais
Numéro d'article102595
journalJournal of Mathematical Economics
Volume99
Les DOIs
étatPublié - 1 mars 2022

Empreinte digitale

Examiner les sujets de recherche de « On the implementation of the median ». Ensemble, ils forment une empreinte digitale unique.

Contient cette citation