Mechanism design to the budget constrained buyer: a canonical mechanism approach

Kojima, Naoki
August 2014
International Journal of Game Theory;Aug2014, Vol. 43 Issue 3, p693
Academic Journal
The present paper studies the problem on multi-dimensional mechanisms in which the buyer's taste and budget are his private information. The paper investigates the problem by way of a canonical mechanism in the traditional one-dimensional setting: function of one variable, the buyer's taste. In our multi-dimensional context, this is an indirect mechanism. The paper characterizes the optimal canonical mechanism and shows that this approach loses no generality with respect to the direct (multi-dimensional) mechanism.


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