Nash Implementation with Lottery Mechanisms
AbstractConsider the problem of exact Nash Implementation of social choice correspondences. Define a lottery mechanism as a mechanism in which the planner can randomize on alternatives out of equilibrium while pure alternatives are always chosen in equilibrium. When preferences over alternatives are strict, we show that Maskin monotonicity (Maskin, 1999) is both necessary and sufficient for a social choice correspondence to be Nash implementable. We discuss how to relax the assumption of strict preferences. Next, we examine social choice correspondences with private components. Finally, we apply our method to the issue of voluntary implementation (Jackson and Palfrey, 2001).
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 28 (2007)
Issue (Month): 1 (January)
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- BOCHET, Olivier, 2005. "Nash implementation with lottery mechanisms," CORE Discussion Papers 2005072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Bochet,Olivier, 2005. "Nash Implementation with Lottery Mechanisms," Research Memorandum 036, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
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- Kara, Tarik & Sonmez, Tayfun, 1996. "Nash Implementation of Matching Rules," Journal of Economic Theory, Elsevier, vol. 68(2), pages 425-439, February.
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- Eric Maskin & Tomas Sjostrom, 2001.
Economics Working Papers
0006, Institute for Advanced Study, School of Social Science.
- Jackson, Matthew O. & Palfrey, Thomas R., 1999.
1077, California Institute of Technology, Division of the Humanities and Social Sciences.
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- Vartiainen, Hannu, 2007. "Subgame perfect implementation: A full characterization," Journal of Economic Theory, Elsevier, vol. 133(1), pages 111-126, March.
- Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
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