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Role of Honesty in Full Implementation

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  • Hitoshi Matsushima

    (Faculty of Economics, University of Tokyo)

Abstract

This paper introduces a new concept for full implementation that takes into account agents' preferences for understanding how the "process" works. We assume that the agents have an intrinsic preference for honesty in the sense that they dislike the idea of lying when it does not influence their welfare but instead goes against the intention of the principal. We show that the presence of such preferences functions very effectively in eliminating unwanted equilibria from the practical perspectives, even if the degree of preference for honesty is small. The mechanisms designed are detail-free and involve only small fines.

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Bibliographic Info

Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-405.

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Length: 21pages
Date of creation: Mar 2006
Date of revision:
Handle: RePEc:tky:fseres:2006cf405

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  1. Glazer, Jacob & Rubinstein, Ariel, 1998. "Motives and Implementation: On the Design of Mechanisms to Elicit Opinions," Journal of Economic Theory, Elsevier, vol. 79(2), pages 157-173, April.
  2. Matsushima Hitoshi, 1993. "Bayesian Monotonicity with Side Payments," Journal of Economic Theory, Elsevier, vol. 59(1), pages 107-121, February.
  3. Martin J Osborne & Ariel Rubinstein, 2009. "A Course in Game Theory," Levine's Bibliography 814577000000000225, UCLA Department of Economics.
  4. Abreu, Dilip & Matsushima, Hitoshi, 1992. "A Response [Virtual Implementation in Iteratively Undominated Strategies I: Complete Information]," Econometrica, Econometric Society, vol. 60(6), pages 1439-42, November.
  5. Steffen Huck & Philippe Jehiel & Tom Rutter, 2006. "Information Processing, Learning and Analogy-based Expectation: an Experiment," Levine's Bibliography 321307000000000541, UCLA Department of Economics.
  6. Eliaz, Kfir, 2002. "Fault Tolerant Implementation," Review of Economic Studies, Wiley Blackwell, vol. 69(3), pages 589-610, July.
  7. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
  8. Uri Gneezy, 2005. "Deception: The Role of Consequences," American Economic Review, American Economic Association, vol. 95(1), pages 384-394, March.
  9. Maskin, Eric & Sjostrom, Tomas, 2001. "Implementation Theory," Working Papers 5-01-1, Pennsylvania State University, Department of Economics.
  10. Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
  11. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March.
  12. Kfir Eliaz, 2002. "Fault Tolerant Implementation," Review of Economic Studies, Oxford University Press, vol. 69(3), pages 589-610.
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