A social planner wants to optimize the choice of a social alternative vis-a-vis the players\u2019 private information. We introduce a generic mechanism, [[ Moshe: the sentence is unclear ]] this is (almost) the only context such that almost optimal choice is guaranteed in [[Moshe: say strictly? ]] dominant strategies. In addition, this mechanism does not hinge on monetary transfers. We demonstrate the mechanism in two speci\ufb01c contexts \u2013 location problems and pricing of digital goods. The design of this mechanism involves a lottery between two mechanisms \u2013 With high probability we actuate a mechanism that makes players [[ Moshe: informationally small may be unclear ]] informationally small while being approximately optimal. The informational smallness ensures players cannot pro\ufb01t much by misreporting their true type. With the complementary probability we actuate a \u2019punishment\u2019 mechanism [[Moshe: I\u2019m not sure that the term punishment is not misleading; people may think about something much less sophisticated]] that provides strong incentives for being truthful.<\/p>\n","protected":false},"excerpt":{"rendered":"
A social planner wants to optimize the choice of a social alternative vis-a-vis the players\u2019 private information. We introduce a generic mechanism, [[ Moshe: the sentence is unclear ]] this is (almost) the only context such that almost optimal choice is guaranteed in [[Moshe: say strictly? ]] dominant strategies. 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