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Nash Implementation and Uncertain Renegotiation

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Author Info
Pablo Amorós () (Universidad de Málaga)

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Abstract

This paper studies Nash implementation when the outcomes of the mechanism can be renegotiated among the agents but the planner does not know the renegotiation function that they will use. We characterize the social objectives that can be implemented in Nash equilibrium when the same mechanism must work for every admissible renegotiation function. The constrained Walrasian correspondence, the core correspondence, and the Pareto-efficient and envy-free correspondence satisfy the necessary and sufficient conditions for this form of implementation if and only if freedisposal of the commodities is allowed. The uniform rule, on the other hand, is not Nash implementable for some admissible renegotiations functions.

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Publisher Info
Paper provided by Centro de Estudios Andaluces in its series Economic Working Papers at Centro de Estudios Andaluces with number E2003/27.

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Length: 23 pages
Date of creation: 2003
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Handle: RePEc:cea:doctra:e2003_27

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Related research
Keywords: Implementation theory; Nash equilibrium; renegotiation function.;

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Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Maskin, Eric, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Blackwell Publishing, vol. 66(1), pages 23-38, January. [Downloadable!] (restricted)
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  2. Eric Maskin & John Moore, 1999. "Implementation and Renegotiation," Harvard Institute of Economic Research Working Papers 1863, Harvard - Institute of Economic Research.
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  3. Ma, Ching-to & Moore, John & Turnbull, Stephen, 1988. "Stopping agents from "cheating"," Journal of Economic Theory, Elsevier, vol. 46(2), pages 355-372, December. [Downloadable!] (restricted)
  4. Arya, Anil & Glover, Jonathan & Hughes, John S., 1997. "Implementing Coordinated Team Play," Journal of Economic Theory, Elsevier, vol. 74(1), pages 218-232, May. [Downloadable!] (restricted)
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  5. 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. [Downloadable!] (restricted)
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  6. Chakravorti, B. & Corchon, L.C., 1992. "Credible Implementation," Papers 76, Bell Communications - Economic Research Group.
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  7. Jackson, Matthew O. & Palfrey, Thomas R., 2001. "Voluntary Implementation," Journal of Economic Theory, Elsevier, vol. 98(1), pages 1-25, May. [Downloadable!] (restricted)
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    • Jackson, Matthew O. & Palfrey, Thomas R., 1999. "Voluntary Implementation," Working Papers 1077, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  8. Matthew O. Jackson & Thomas R. Palfrey, 1998. "Efficiency and Voluntary Implementation in Markets with Repeated Pairwise Bargaining," Econometrica, Econometric Society, vol. 66(6), pages 1353-1388, November.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Luis C. Corchon, 2007. "The theory of implementation : what did we learn?," Economics Working Papers we081207, Universidad Carlos III, Departamento de Economía. [Downloadable!]
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