Nash implementation with a Private Good
AbstractI construct a general model of social planning problems, including mixed production economies and regulatory problems with negative externalities as special cases, and I give simple mechanisms for Nash implementation under three increasingly general sets of assumptions. I first construct a continuous mechanism to implement the (constrained) Lindahl allocations of an economy, and I then extend this to arbitrary social choice rules based on prices. I end with a mechani sm to implement any monotonic social choice rule, assuming only the existence of a private (not necessarily transferable) good. In that general case, each agent simply reports an upper contour set, an outcome, and I need two agents to make binary numerical announcements. I do not require the usual no-veto-power condition. Copyright Springer-Verlag Berlin Heidelberg 2003
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Bibliographic InfoPaper provided by University of Rochester - Wallis Institute of Political Economy in its series Wallis Working Papers with number WP25.
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Postal: University of Rochester, Wallis Institute, Harkness 109B Rochester, New York 14627 U.S.A.
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- JEL - Labor and Demographic Economics - - - - -
- Cla - Mathematical and Quantitative Methods - - - - -
- Num - Economic History - - - - -
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- NEP-ALL-2002-11-18 (All new papers)
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- Tian, Guoqiang, 2009. "Implementation in economies with non-convex production technologies unknown to the designer," Games and Economic Behavior, Elsevier, vol. 66(1), pages 526-545, May.
- Guoqiang Tian, 2010. "Implementation of marginal cost pricing equilibrium allocations with transfers in economies with increasing returns to scale," Review of Economic Design, Springer, vol. 14(1), pages 163-184, March.
- Tian, Guoqiang, 2009. "Implementation of Pareto efficient allocations," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 113-123, January.
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