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Journal of Economic Theory and Econometrics
JETEM/계량경제학보/計量經濟學報/JKES
Journal of the Korean Econometric Society

Optimal robust allocation of private goods

Vol.29, No.4, December , 1–15



  •   (Korea University)

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Abstract  

We characterize the optimal robust mechanisms for the allocation of private objects, where robust mechanisms are those mechanisms that satisfy dominant strategy incentive compatibility, ex-post individual rationality, and expost no budget deficit, and optimal robust mechanisms are the ones that maximize the expected sum of players' payoffs among all robust mechanisms. With a certain assumption on the payoff of the lowest possible type, we provide a complete description of optimal robust mechanisms with any number of players and objects.


Keywords
   robust mechanism design, dominant strategy, budget balance, expost individual rationality

JEL classification codes
   C72, D47, D82
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