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Nash Implementation and Uncertain Renegotiation

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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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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
Date of revision:
Handle: RePEc:cea:doctra:e2003_27

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

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  1. Chakravorty, Bhaskar & Corchon, Luis C. & Wilkie, Simon, 2006. "Credible implementation," Games and Economic Behavior, Elsevier, vol. 57(1), pages 18-36, October.
  2. 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.
  3. Pablo AmorÕs & Bernardo Moreno, 2001. "original papers : Implementation of optimal contracts under adverse selection," Review of Economic Design, Springer, vol. 6(1), pages 41-61.
  4. Jackson, Matthew O. & Palfrey, Thomas R., 2001. "Voluntary Implementation," Journal of Economic Theory, Elsevier, vol. 98(1), pages 1-25, May.
  5. Eric Maskin & John Moore, 1999. "Implementation and Renegotiation," Harvard Institute of Economic Research Working Papers 1863, Harvard - Institute of Economic Research.
  6. Ma, Ching-to & Moore, John & Turnbull, Stephen, 1988. "Stopping agents from "cheating"," Journal of Economic Theory, Elsevier, vol. 46(2), pages 355-372, December.
  7. Leonid Hurwicz, 1994. "Economic design, adjustment processes, mechanisms, and institutions," Review of Economic Design, Springer, vol. 1(1), pages 1-14, December.
  8. Matthew O. Jackson & Thomas R. Palfrey, 1997. "Efficiency and Voluntary Implementation in Markets with Repeated Pairwise Bargaining," Game Theory and Information 9711003, EconWPA.
  9. Arya, Anil & Glover, Jonathan & Hughes, John S., 1997. "Implementing Coordinated Team Play," Journal of Economic Theory, Elsevier, vol. 74(1), pages 218-232, May.
  10. Eric Maskin, 1998. "Nash Equilibrium and Welfare Optimality," Harvard Institute of Economic Research Working Papers 1829, Harvard - Institute of Economic Research.
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Cited by:
  1. Luis C. Corchon & Matteo Triosi, 2005. "Implementation With State Dependent Feasible Sets And Preferences: A Renegotiation Approach," Economics Working Papers we057136, Universidad Carlos III, Departamento de Economía.
  2. Yi, Jianxin, 2011. "Implementation via mechanisms with transfers," Mathematical Social Sciences, Elsevier, vol. 61(1), pages 65-70, January.
  3. Neeman, Zvika & Pavlov, Gregory, 2013. "Ex post renegotiation-proof mechanism design," Journal of Economic Theory, Elsevier, vol. 148(2), pages 473-501.
  4. Zvika Neeman & Gregory Pavlov, 2010. "Renegotiation-proof Mechanism Design," UWO Department of Economics Working Papers 20101, University of Western Ontario, Department of Economics.
  5. Luis C. Corchon, 2007. "The theory of implementation : what did we learn?," Economics Working Papers we081207, Universidad Carlos III, Departamento de Economía.

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