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Implementation and Social Influence

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  • Hitoshi Matsushima

    (Faculty of Economics, University of Tokyo)

Abstract

This paper incorporates social psychology into implementation theory. Real individuals care not only about their material benefits but also about their social influence in terms of obedience and conformity. Using a continuous time horizon, we demonstrate a method of manipulating the decision-making process, according to which, an uninformed principal utilizes her/his power of social influence to incentivize multiple informed agents to make honest announcements. Following this method, we show that with incentive compatibility, the principal can implement any alternative as she/he wishes as the unique Nash equilibrium outcome, even if her/his power is limited and no contractual devices are available.

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File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2008/2008cf598.pdf
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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-598.

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Length: 35pages
Date of creation: Oct 2008
Date of revision:
Handle: RePEc:tky:fseres:2008cf598

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  1. Hitoshi Matsushima, 2006. "Role of Honesty in Full Implementation," CIRJE F-Series CIRJE-F-405, CIRJE, Faculty of Economics, University of Tokyo.
  2. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
  3. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, January.
  4. Hitoshi Matsushima, 2007. "Behavioral Aspects of Implementation Theory," CIRJE F-Series CIRJE-F-523, CIRJE, Faculty of Economics, University of Tokyo.
  5. Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
  6. Uri Gneezy, 2005. "Deception: The Role of Consequences," American Economic Review, American Economic Association, vol. 95(1), pages 384-394, March.
  7. Bernheim, B Douglas, 1994. "A Theory of Conformity," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 841-77, October.
  8. Matsushima, Hitoshi, 1988. "A new approach to the implementation problem," Journal of Economic Theory, Elsevier, vol. 45(1), pages 128-144, June.
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