Efficient Nash equilibria, individual rights and Pareto principle: an impossibility result
AbstractThis paper shows an impossibility result similar to the liberal paradox concerning two games, each of one with an efficient Nash equilibrium. We show that our result holds also in dictatorial games.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 30 (2010)
Issue (Month): 1 ()
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Liberal paradox; efficient Nash equilibrium; Pareto principle; dictatorial games;
Find related papers by JEL classification:
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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