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On Maskin monotonicity of solution based social choice rules

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Author Info
Claus-Jochen Haake () (Institute of Mathematical Economics, Bielefeld University)
Walter Trockel () (Institute of Mathematical Economics, Bielefeld University)

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Abstract

Howard (1992) argues that the Nash bargaining solution is not Nash implementable, as it does not satisfy Maskin monotonicity. His arguments can be extended to other bargaining solutions as well. However, by de.ning a social choice correspondence that is based on the solution rather than on its realizations, one can overcome this shortcoming. We even show that such correspondences satisfy a stronger version of monotonicity that is even su.cient for Nash implementability.

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File URL: http://www.imw.uni-bielefeld.de/papers/files/imw-wp-393.pdf
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File Function: First version, 2007
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Publisher Info
Paper provided by Bielefeld University, Institute of Mathematical Economics in its series Working Papers with number 393.

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Length: 11 pages
Date of creation: Jul 2007
Date of revision:
Handle: RePEc:bie:wpaper:393

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Related research
Keywords: Maskin monotonicity; social choice rule; bargaining games; Nash program; mechanism; implementation;

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Find related papers by JEL classification:
C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis

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  1. Trockel,W., 1999. "Unique Nash implementation for a class of bargaining solutions," Working Papers 308, Bielefeld University, Institute of Mathematical Economics. [Downloadable!]
  2. Howard, J. V., 1992. "A social choice rule and its implementation in perfect equilibrium," Journal of Economic Theory, Elsevier, vol. 56(1), pages 142-159, February. [Downloadable!] (restricted)
  3. Serrano, Roberto, 1997. "A comment on the Nash program and the theory of implementation," Economics Letters, Elsevier, vol. 55(2), pages 203-208, August. [Downloadable!] (restricted)
    Other versions:
  4. Maskin, Eric, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Blackwell Publishing, vol. 66(1), pages 23-38, January. [Downloadable!] (restricted)
    Other versions:
  5. Leonid Hurwicz, 1994. "Economic design, adjustment processes, mechanisms, and institutions," Review of Economic Design, Springer, vol. 1(1), pages 1-14, December. [Downloadable!] (restricted)
  6. Naeve, Jorg, 1999. "Nash implementation of the Nash bargaining solution using intuitive message spaces," Economics Letters, Elsevier, vol. 62(1), pages 23-28, January. [Downloadable!] (restricted)
  7. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April. [Downloadable!] (restricted)
  8. Dagan, Nir & Serrano, Roberto, 1998. "Invariance and randomness in the Nash program for coalitional games," Economics Letters, Elsevier, vol. 58(1), pages 43-49, January. [Downloadable!] (restricted)
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  9. Bergin, James & Duggan, John, 1999. "An Implementation-Theoretic Approach to Non-cooperative Foundations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 50-76, May. [Downloadable!] (restricted)
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  10. Yamato, Takehiko, 1992. "On nash implementation of social choice correspondences," Games and Economic Behavior, Elsevier, vol. 4(3), pages 484-492, July. [Downloadable!] (restricted)
  11. Damme, Eric van, 1986. "The Nash bargaining solution is optimal," Journal of Economic Theory, Elsevier, vol. 38(1), pages 78-100, February. [Downloadable!] (restricted)
  12. Danilov, Vladimir, 1992. "Implementation via Nash Equilibria," Econometrica, Econometric Society, vol. 60(1), pages 43-56, January. [Downloadable!] (restricted)
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