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Fair divisions as attracting Nash equilibria of simple games

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  • Galbiati, Marco

Abstract

We give a mechanism fully implementing envy-free divisions such that: strategy spaces are symmetric, the set of Nash equilibria is a global attractor for the best-reply dynamics. As a byproduct, undesired mixed-strategy equilibria are weeded out by the adjustment process.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 100 (2008)
Issue (Month): 1 (July)
Pages: 72-75

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Handle: RePEc:eee:ecolet:v:100:y:2008:i:1:p:72-75

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  1. Maskin, Eric & Sjostrom, Tomas, 2001. "Implementation Theory," Working Papers 5-01-1, Pennsylvania State University, Department of Economics.
  2. Galbiati, Marco, 2008. "Fair divisions as attracting Nash equilibria of simple games," Economics Letters, Elsevier, vol. 100(1), pages 72-75, July.
  3. Saijo, Tatsuyoshi & Tatamitani, Yoshikatsu & Yamato, Takehiko, 1996. "Toward Natural Implementation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 949-80, November.
  4. Antonio Cabrales & Giovanni Ponti, 1997. "Implementation, elimination of weakly dominated strategies and evolutionary dynamics," Economics Working Papers 221, Department of Economics and Business, Universitat Pompeu Fabra.
  5. repec:fth:calaec:6-98 is not listed on IDEAS
  6. Saijo, Tatsuyoshi & Tatamitani, Yoshikatsu & Yamato, Takehiko, 1999. "Characterizing Natural Implementability: The Fair and Walrasian Correspondences," Games and Economic Behavior, Elsevier, vol. 28(2), pages 271-293, August.
  7. Antonio Cabrales, 1996. "Adaptive dynamics and the implementation problem with complete information," Economics Working Papers 179, Department of Economics and Business, Universitat Pompeu Fabra.
  8. Kim, Y.G. & Sobel, J., 1993. "An Evolutionary Approach to Pre-Play Communication," Working Papers 93-02, University of Iowa, Department of Economics.
  9. Bhaskar Dutta & Arunava Sen & Rajiv Vohra, 1994. "Nash implementation through elementary mechanisms in economic environments," Review of Economic Design, Springer, vol. 1(1), pages 173-203, December.
  10. Brams,Steven J. & Taylor,Alan D., 1996. "Fair Division," Cambridge Books, Cambridge University Press, number 9780521556446, October.
  11. Postlewaite, Andrew & Wettstein, David, 1989. "Feasible and Continuous Implementation," Review of Economic Studies, Wiley Blackwell, vol. 56(4), pages 603-11, October.
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Cited by:
  1. Marco Galbiati, 2006. "Fair Divisions as Attracting Nash Equilibria of Simple Games," Economics Working Papers ECO2006/24, European University Institute.

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