Collusion, renegotiation and implementation
AbstractWe study the implementation problem for exchange economies when agents can renegotiate the outcome assigned by the planner and can collude. We focus on the use of sequential mechanisms and present a simple sufficient condition for implementation with renegotiation in strong perfect equilibrium. We present an application to optimal risk sharing, showing that the possibility of collusion and renegotiation does not in general prevent the implementation of efficient allocations.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 17 (2000)
Issue (Month): 1 ()
Note: Received: 27 August 1997/Accepted: 29 October 1998
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
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- Yuan Ju & David Wettstein, 2006.
"Implementing Cooperative Solution Concepts: a Generalized Bidding Approach,"
Keele Economics Research Papers
KERP 2006/06, Centre for Economic Research, Keele University.
- Yuan Ju & David Wettstein, 2009. "Implementing cooperative solution concepts: a generalized bidding approach," Economic Theory, Springer, vol. 39(2), pages 307-330, May.
- Ju, Y. & Wettstein, D., 2006. "Implementing Cooperative Solution Concepts: A Generalized Bidding Approach," Discussion Paper 2006-42, Tilburg University, Center for Economic Research.
- Eric Maskin & Tomas Sjostrom, 2001.
Economics Working Papers
0006, Institute for Advanced Study, School of Social Science.
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