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Rutgers University

By Dino Gerardi, Richard Mclean, Andrew Postlewaite and Jel Classi Cation C

Abstract

Con icts of interest arise between a decision maker and agents who have information pertinent to the problem because of di erences in their preferences over outcomes. We investigate how the decision maker can extract the information by distorting the decisions that will be taken. We show that only slight distortions will be necessary when agents ' signals are sufciently accurate or when the number of informed agents becomes large. We argue that the particular mechanisms analyzed are substantially less demanding informationally than those typically employed in implementation and virtual implementation. Further, the mechanisms are immune to manipulation by small groups of agents

Year: 2008
OAI identifier: oai:CiteSeerX.psu:10.1.1.352.3001
Provided by: CiteSeerX
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