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Dominant Strategy Implementation in Pure Exchange Economies

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  • Hideki Mizukami

    (Graduate School of Economics, Osaka University)

  • Takuma Wakayama

    (Graduate School of Economics, Osaka University)

Abstract

In this paper, we consider dominant strategy implementation in classical pure exchange economies with free disposal. We show that quasi-strong-non-bossiness and strategy-proofness together are necessary and sufficient for dominant strategy implementation via the direct revelation mechanism. Moreover, we prove that strategy-proofness is sufficient for dominant strategy implementation, by using an augmented revelation mechanism similar to the one devised by Jackson et al. (1994). This implies that, in classical pure exchange economies, dominant strategy implementability by a certain indirect mechanism is equivalent to truthful implementability in dominant strategy equilibria.

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Bibliographic Info

Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 04-03.

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Date of creation: Mar 2004
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Handle: RePEc:osk:wpaper:0403

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Web page: http://www.econ.osaka-u.ac.jp/
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  1. Palfrey, Thomas R & Srivastava, Sanjay, 1989. "Implementation with Incomplete Information in Exchange Economies," Econometrica, Econometric Society, vol. 57(1), pages 115-34, January.
  2. Dirk Bergemann & Stephen Morris, 2005. "Robust Implementation: The Role of Large Type Spaces," Cowles Foundation Discussion Papers 1519, Cowles Foundation for Research in Economics, Yale University.
  3. Jackson, Matthew O, 1992. "Implementation in Undominated.Strategies: A Look at Bounded Mechanisms," Review of Economic Studies, Wiley Blackwell, vol. 59(4), pages 757-75, October.
  4. Barbera, Salvador & Jackson, Matthew O, 1995. "Strategy-Proof Exchange," Econometrica, Econometric Society, vol. 63(1), pages 51-87, January.
  5. Tatsuyoshi Saijo & Tomas Sjostrom & Takehiko Yamato, 2005. "Secure Implementation," Economics Working Papers 0056, Institute for Advanced Study, School of Social Science.
  6. Ritz, Zvi, 1983. "Restricted domains, arrow-social welfare functions and noncorruptible and non-manipulable social choice correspondences: The case of private alternatives," Mathematical Social Sciences, Elsevier, vol. 4(2), pages 155-179, April.
  7. Jackson, Matthew O & Srivastava, Sanjay, 1996. "A Characterization of Game-Theoretic Solutions Which Lead to Impossibility Theorems," Review of Economic Studies, Wiley Blackwell, vol. 63(1), pages 23-38, January.
  8. Matthew O. Jackson, 1990. "Undominated Nash Implementation in Bounded Mechanisms," Discussion Papers 966, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  9. Dasgupta, Partha S & Hammond, Peter J & Maskin, Eric S, 1979. "The Implementation of Social Choice Rules: Some General Results on Incentive Compatibility," Review of Economic Studies, Wiley Blackwell, vol. 46(2), pages 185-216, April.
  10. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
  11. Satterthwaite, Mark A & Sonnenschein, Hugo, 1981. "Strategy-Proof Allocation Mechanisms at Differentiable Points," Review of Economic Studies, Wiley Blackwell, vol. 48(4), pages 587-97, October.
  12. Sjostrom Tomas, 1994. "Implementation in Undominated Nash Equilibria without Integer Games," Games and Economic Behavior, Elsevier, vol. 6(3), pages 502-511, May.
  13. Lin Zhou, 1990. "Inefficiency of Strategy-Proof Allocation Mechanisms in Pure Exchange Economies," Cowles Foundation Discussion Papers 954, Cowles Foundation for Research in Economics, Yale University.
  14. Laffont, Jean-Jacques & Maskin, Eric, 1982. "Nash and dominant strategy implementation in economic environments," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 17-47, June.
  15. Mookherjee, Dilip & Reichelstein, Stefan, 1990. "Implementation via Augmented Revelation Mechanisms," Review of Economic Studies, Wiley Blackwell, vol. 57(3), pages 453-75, July.
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