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文章基本信息

  • 标题:A Problem in the Execution of Mechanisms without Coordinator
  • 本地全文:下载
  • 作者:Minho Shin
  • 期刊名称:Journal of Economic Research
  • 印刷版ISSN:1226-4261
  • 出版年度:1999
  • 卷号:4
  • 期号:2
  • 出版社:Hanyang Economic Research Institute
  • 摘要:

    This paper emphasizes the mechanism coordinator's role in coordinating the traders' information. When there are differences of opinions among traders on the valuation, there are cases in which efficient trading may not be undertaken. Efficiency can be achieved when the traders voluntarily design and agree on an efficient coordination mechanism. Nevertheless, if we consider an incompleteness of information among traders about subjective valuations, an information revelation problem may arise in the process of executing a mechanism. And some efficient coordination mechanisms may not be executable without the help of an objective third party. A mechanism coordinator can promote efficiency by executing a coordination mechanism.

  • 关键词:Coordination mechanism; Incomplete information
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