Publication:
Perfect bayseian implementation: one round of signaling is not enough

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URI: https://hdl.handle.net/10016/7026
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wb977911.PDF (1.18 MB)
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1997-10
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We show that there exists a social choice function that cannot be implemented in perfect Bayesian equilibrium if the mechanism has an equilibrium with one round of signaling. The social choice function can however be implemented in perfect Bayesian equilibrium, obviously with an equilibrium reaching the second stage.
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DEE - Working Papers. Business Economics. WB