Logo
DeutschClear Cookie - decide language by browser settings
Strausz, Roland (May 2010): Mediated Contracts and Mechanism Design. SFB/TR 15 Discussion Paper No. 322
[img]
Preview

PDF

158kB

Abstract

This note relates the mechanisms that are based on mediated contracts of Rahman and Obara (2010) to the mechanisms of Myerson (1982). It shows that the mechanisms in Myerson (1982) are more general in that they encompass the mechanisms based on mediated contracts. It establishes an equivalence between the two classes if mediated contracts are allowed to be stochastic.