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Dominant Strategy Implementation in Pure Exchange Economies

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Author Info
Hideki Mizukami () (Faculty of Economics, Toyama 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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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-Rev.

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Length: 22 pages
Date of creation: Mar 2004
Date of revision: Mar 2005
Handle: RePEc:osk:wpaper:0403r

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Related research
Keywords: Quasi-strong-non-bossiness; Strategy-proofness; Augmented Revelation Mechanism; The Revelation Principle;

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Find related papers by JEL classification:
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation

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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. [Downloadable!] (restricted)
  2. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June. [Downloadable!] (restricted)
  3. Dirk Bergemann & Stephen Morris, 2005. "Robust Implementation: The Role of Large Type Spaces," Cowles Foundation Discussion Papers 1519, Cowles Foundation, Yale University. [Downloadable!]
    Other versions:
  4. Satterthwaite, Mark A & Sonnenschein, Hugo, 1981. "Strategy-Proof Allocation Mechanisms at Differentiable Points," Review of Economic Studies, Blackwell Publishing, vol. 48(4), pages 587-97, October. [Downloadable!] (restricted)
  5. Sjostrom Tomas, 1994. "Implementation in Undominated Nash Equilibria without Integer Games," Games and Economic Behavior, Elsevier, vol. 6(3), pages 502-511, May. [Downloadable!] (restricted)
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  6. Jackson, Matthew O, 1992. "Implementation in Undominated.Strategies: A Look at Bounded Mechanisms," Review of Economic Studies, Blackwell Publishing, vol. 59(4), pages 757-75, October. [Downloadable!] (restricted)
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  7. Lin Zhou, 1990. "Inefficiency of Strategy-Proof Allocation Mechanisms in Pure Exchange Economies," Cowles Foundation Discussion Papers 954, Cowles Foundation, Yale University. [Downloadable!]
  8. Barbera, Salvador & Jackson, Matthew O, 1995. "Strategy-Proof Exchange," Econometrica, Econometric Society, vol. 63(1), pages 51-87, January. [Downloadable!] (restricted)
    Other versions:
    • Salvador Barbera & Matthew O. Jackson, 1993. "Strategy-Proof Exchange," Discussion Papers 1021, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  9. 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. [Downloadable!] (restricted)
  10. Jackson, Matthew O & Srivastava, Sanjay, 1996. "A Characterization of Game-Theoretic Solutions Which Lead to Impossibility Theorems," Review of Economic Studies, Blackwell Publishing, vol. 63(1), pages 23-38, January. [Downloadable!] (restricted)
  11. 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. [Downloadable!] (restricted)
  12. Tatsuyoshi Saijo & Tomas Sjöström & Takehiko Yamato, 2004. "Secure Implementation," Levine's Bibliography 122247000000000615, UCLA Department of Economics. [Downloadable!]
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  13. Jackson Matthew O. & Palfrey Thomas R. & Srivastava Sanjay, 1994. "Undominated Nash Implementation in Bounded Mechanisms," Games and Economic Behavior, Elsevier, vol. 6(3), pages 474-501, May. [Downloadable!] (restricted)
    Other versions:
  14. 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, Blackwell Publishing, vol. 46(2), pages 185-216, April. [Downloadable!] (restricted)
  15. Mookherjee, Dilip & Reichelstein, Stefan, 1990. "Implementation via Augmented Revelation Mechanisms," Review of Economic Studies, Blackwell Publishing, vol. 57(3), pages 453-75, July. [Downloadable!] (restricted)
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