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Role of Honesty in Full Implementation

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Author Info
Hitoshi Matsushima (Faculty of Economics, University of Tokyo)

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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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File URL: http://www.e.u-tokyo.ac.jp/cirje/research/dp/2006/2006cf405.pdf
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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
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Handle: RePEc:tky:fseres:2006cf405

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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  1. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, December.
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  2. Gary Charness & Martin Dufwenberg, 2006. "Promises and Partnership," Econometrica, Econometric Society, vol. 74(6), pages 1579-1601, November. [Downloadable!] (restricted)
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  3. Matsushima Hitoshi, 1993. "Bayesian Monotonicity with Side Payments," Journal of Economic Theory, Elsevier, vol. 59(1), pages 107-121, February. [Downloadable!] (restricted)
  4. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October. [Downloadable!] (restricted)
  5. Eliaz, Kfir, 2002. "Fault Tolerant Implementation," Review of Economic Studies, Blackwell Publishing, vol. 69(3), pages 589-610, July.
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  6. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March. [Downloadable!] (restricted)
  7. Abreu, D. & Matsushima, H., 1991. "Virtual Implementation in Iteratively Undominated Strategies: Incomplete Information," Papers e-91-2, Stanford - Hoover Institution.
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  8. Maskin, Eric & Sjostrom, Tomas, 2002. "Implementation theory," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 5, pages 237-288 Elsevier. [Downloadable!] (restricted)
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  9. Uri Gneezy, 2005. "Deception: The Role of Consequences," American Economic Review, American Economic Association, vol. 95(1), pages 384-394, March. [Downloadable!]
  10. 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. [Downloadable!] (restricted)
  11. Steffen Huck & Philippe Jehiel & Tom Rutter, 2006. "Information Processing, Learning and Analogy-based Expectation: an Experiment," Levine's Bibliography 321307000000000541, UCLA Department of Economics. [Downloadable!]
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  1. Hitoshi Matsushima, 2007. "Detail-Free Mechanism Design in Twice Iterative Dominance: Large Economies," CIRJE F-Series CIRJE-F-519, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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  2. Luis C. Corchon, 2007. "The theory of implementation : what did we learn?," Economics Working Papers we081207, Universidad Carlos III, Departamento de Economía. [Downloadable!]
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