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Implementation with renegotiation when preferences and feasible sets are state dependent

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  • Luis Corchón

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  • Matteo Triossi

    ()

Abstract

In this paper, we present a model of implementation where infeasible allocations are converted into feasible ones through a process of renegotiation that is represented by a reversion function. We describe the maximal set of Social Choice Correspondences that can be implemented in Nash Equilibrium in a class of reversion functions that punish agents for infeasibilities. This is used to study the implementation of the Walrasian Correspondence and several axiomatic solutions to problems of bargaining and taxation.

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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 36 (2011)
Issue (Month): 2 (February)
Pages: 179-198

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Handle: RePEc:spr:sochwe:v:36:y:2011:i:2:p:179-198

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  1. Serrano, Roberto, 1997. "A comment on the Nash program and the theory of implementation," Economics Letters, Elsevier, vol. 55(2), pages 203-208, August.
  2. Volij, Oscar & Dagan, Nir & Serrano, Roberto, 1999. "Feasible Implementation of Taxation Methods," Staff General Research Papers 5246, Iowa State University, Department of Economics.
  3. Maskin, Eric, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Wiley Blackwell, vol. 66(1), pages 23-38, January.
  4. Maskin, Eric & Moore, John, 1999. "Implementation and Renegotiation," Review of Economic Studies, Wiley Blackwell, vol. 66(1), pages 39-56, January.
  5. Moore, John & Repullo, Rafael, 1990. "Nash Implementation: A Full Characterization," Econometrica, Econometric Society, vol. 58(5), pages 1083-99, September.
  6. Roberto Serrano & Rajiv Vohra, 1997. "Non-cooperative implementation of the core," Social Choice and Welfare, Springer, vol. 14(4), pages 513-525.
  7. Grandmont, Jean-Michel & Laroque, Guy, 1976. "On Temporary Keynesian Equilibria," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 53-67, February.
  8. Nir Dagan & Roberto Serrano, 1997. "Invariance and randomness in the Nash program for coalitional games," Economics Working Papers 217, Department of Economics and Business, Universitat Pompeu Fabra.
  9. Jackson, Matthew O. & Palfrey, Thomas R., 1999. "Voluntary Implementation," Working Papers 1077, California Institute of Technology, Division of the Humanities and Social Sciences.
  10. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer, vol. 18(4), pages 655-708.
  11. Murat Atlamaz & Bettina Klaus, 2003. "Manipulation via Endowments in Exchange Markets with Indivisible Goods," UFAE and IAE Working Papers 598.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  12. Tian Guoqiang & Li Qi, 1995. "On Nash-Implementation in the Presence of Withholding," Games and Economic Behavior, Elsevier, vol. 9(2), pages 222-233, May.
  13. Hong, Lu, 1995. "Nash Implementation in Production Economies," Economic Theory, Springer, vol. 5(3), pages 401-17, May.
  14. Postlewaite, Andrew, 1979. "Manipulation via Endowments," Review of Economic Studies, Wiley Blackwell, vol. 46(2), pages 255-62, April.
  15. Silvestre, Joaquim, 1982. "Fixprice analysis in exchange economies," Journal of Economic Theory, Elsevier, vol. 26(1), pages 28-58, February.
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