BAYESIAN IMPLEMENTATION IN EXCHANGE ECONOMIES WITH STATE-DEPENDENT FEASIBLE SETS AND PRIVATE INFORMATION

This paper considers the problem of implementation for exchange econom ies with state dependent feasible sets. Agents are assumed to have pri vate information about their endowments. We provide necessary and suff icient conditions for social choice rules that are Bayesian implementa ble by feasible mechanisms for such an environment. We compare our mai n result to the Nash implementation result derived in an environment o f complete information.