Equilibrium Selection in Information Elicitation without Verification via Information Monotonicity

Understand

Peer-prediction is a mechanism which elicits privately-held, non-variable information from self-interested agents---formally, truth-telling is a strict Bayes Nash equilibrium of the mechanism.

• The original Peer-prediction mechanism suffers from two main limitations: (1) the mechanism must know the "common prior" of agents' signals; (2) additional undesirable and non-truthful equilibria exist which often have a greater expected payoff than the truth-telling equilibrium.
• A series of results has successfully weakened the known common prior assumption.
• However, the equilibrium multiplicity issue remains a challenge.