The Theory of Implemetation when the Planner is a PLayer
AbstractIn this paper we study a situation were the planner cannot commit to a mechanism and the outcome function is substituted by the planner herself. We assume 1) agents have complete information and play simultaneously; and 2) given the messages announced by the agents, the planner reacts in an optimal way given her beliefs. This transforms the implementation problem into a signaling game. We derive necessary and sufficient conditions for interactive implementation under different restrictions on the planner's out-of-equilibrium beliefs. We compare our results to standard results on Nash implementation.
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Bibliographic InfoPaper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 9512.
Length: 33 pages
Date of creation: 1995
Date of revision:
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Web page: http://www.econ.cam.ac.uk/index.htm
GAME THEORY; ECONOMIC EQUILIBRIUM;
Other versions of this item:
- Baliga, Sandeep & Corchon, Luis C. & Sjostrom, Tomas, 1997. "The Theory of Implementation When the Planner Is a Player," Journal of Economic Theory, Elsevier, vol. 77(1), pages 15-33, November.
- Luis Corchón & Sandeep Baliga & Tomas Sjöström, 1995. "The Theory Of Implementation When The Planner Is A Player," Working Papers. Serie AD 1995-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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