We consider general utility models and information structures of the agents and illustrate when economic conclusions for designing simple mechanisms in classical settings extends for general environments. We show that whether economic conclusions can be generalized depends on the details of the generalizations. For example, in single-item auction, competition and...
Classic mechanism design studies the implementation of optimal systems or processes in the presence of multiple selfish and fully rational agents. The theory of mechanism design has been one of the most celebrated advances in the economics discipline, especially with regards to auctions Myerson (1981),Vickrey (1961), Clarke (1971), Groves (1973)....