Implementation by Gradual Revelation

摘要

We investigate the feasibility of implementing an allocation rule with a gradual-revelation mechanism in which agents reveal their private information over time (rather than all at once). With independently distributed types, private values, and transferable utilities satisfying a single-crossing property, an ex-post monotonicity condition is sufficient for budget-balanced implementation of any incentive-compatible allocation rule with any gradual-revelation scheme. When we extend the single-crossing property over the set of randomized allocations, a weaker monotonicity condition is necessary and sufficient for budget-balanced implementation by gradual revelation.