بهینه مکانیزم الماس Dybvig در اقتصادهای بزرگ با عدم قطعیت کل

This paper characterizes the direct mechanism which implements the constrained optimal outcome in a version of Diamond and Dybvig (1983) with aggregate uncertainty and a continuum of agents. Using this result, numerical examples where the best direct mechanism has a bank-run-equilibrium are easily obtained.