Publication Date: August 2005
Revision Date: January 2006
We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging literature on the role of endogenous payoﬀ and strategic information for the design and the eﬀiciency of the mechanism. We speciﬁcally consider information management in the form of acquisition of new information or disclosure of existing information. Second, we argue that in the presence of endogenous information, the robustness of the mechanism to the type space and higher order beliefs becomes a natural desideratum. We discuss recent approaches to robust mechanism design and robust implementation.
Mechanism Design, Information Acquisition, Ex Post Equilibrium, Robust Mechanism Design, Interdependent Values, Information Management
JEL Classification Codes: C79, D82