Impossibility of Nash implementation in two-person economies
AbstractIn this note, we prove two impossibility results of Nash implementation in two-person economies. First, we will show the non-existence of continuous and balanced mechanisms which implement the Walrasian correspondence. Second, by adding a convexity assumption of mechanisms, we present the impossibility of continuous implementation of Pareto optimal and individually rational allocations in balanced way.
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Bibliographic InfoArticle provided by Springer in its journal Review of Economic Design.
Volume (Year): 3 (1998)
Issue (Month): 2 ()
Note: Received: 16 April 1996 / Accepted: 25 April 1997
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