This paper looks at implementation in economic environments when agents have perfect information about the state of the world, but cannot commit not to renegotiate bad outcomes or to collude against each other. If renegotiation satisfies a weak condition of disagreement point monotonicity, then any Pareto-efficient social choice function can be implemented if there are at least three agents who play undominated Nash equilibria. The mechanism does not use modulo or integer games, has no bad mixed strategy equilibria and is "bounded".
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Paper provided by Osaka - Institute of Social and Economic Research in its series Papers with number
448.
Length: 14 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:osakae:448
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