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Implementation by Mediated Equilibrium

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Author Info
Bezalel Peleg ()
Ariel D. Procaccia ()

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Abstract

Implementation theory tackles the following problem: given a social choice correspondence, find a decentralized mechanism such that for every constellation of the individuals' preferences, the set of outcomes in equilibrium is exactly the set of socially optimal alternatives (as specified by the correspondence). In this paper we are concerned with implementation by mediated equilibrium; under such an equilibrium, a mediator coordinates the players' strategies in a way that discourages deviation. Our main result is a complete characterization of social choice correspondences which are implementable by mediated strong equilibrium. This characterization, in addition to being strikingly concise, implies that some important social choice correspondences which are not implementable by strong equilibrium are in fact implementable by mediated strong equilibrium.

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Publisher Info
Paper provided by Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp463.

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Length: 22 pages
Date of creation: Sep 2007
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Handle: RePEc:huj:dispap:dp463

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  1. Danilov, Vladimir, 1992. "Implementation via Nash Equilibria," Econometrica, Econometric Society, vol. 60(1), pages 43-56, January. [Downloadable!] (restricted)
  2. Abdou, Joseph & Keiding, Hans, 2003. "On necessary and sufficient conditions for solvability of game forms," Mathematical Social Sciences, Elsevier, vol. 46(3), pages 243-260, December. [Downloadable!] (restricted)
  3. Abdou, J, 1995. "Nash and Strongly Consistent Two-Player Game Forms," International Journal of Game Theory, Springer, vol. 24(4), pages 345-56.
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This page was last updated on 2009-11-29.

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