CONSTRAINED EFFICIENT MARKETS FOR MANIPULATION ECONOMIES
研究了在存在事后操纵的大型经济体中，如何设计针对排他性合约的竞争性市场，证明了均衡的存在性和约束最优性，并适用于由私人信息或行为偏差导致的操纵。
Abstract We design a competitive market for exclusive contracts in large economies with observable types where trades are subject to postcontractual manipulations. We do not impose quantity restrictions at the trading stage—for example, incentive constraints on the consumption or production sets. We establish existence and constrained optimality of equilibrium. Our design can accommodate manipulations stemming from private information as well as from behavioral biases—for example, time inconsistency and false beliefs. We discuss the needed size and complexity of the commodity set.