Title

Information in Mechanism Design

Document Type

Discussion Paper

Publication Date

8-1-2005

CFDP Number

1532R

CFDP Revision Date

2006-01-01

CFDP Pages

42

Abstract

We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We specifically consider information management in the form of acquisition of new information or disclosure of existing information. Second, we argue that in the presence of endogenous information, the robustness of the mechanism to the type space and higher order beliefs becomes a natural desideratum. We discuss recent approaches to robust mechanism design and robust implementation.

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