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A difficulty in implementing correlated equilibrium distributions

Listed author(s):
  • Kar, Anirban
  • Ray, Indrajit
  • Serrano, Roberto

We view achieving a particular correlated equilibrium distribution for a normal form game as an implementation problem. We show, using a parametric version of the two-person Chicken game, that a social choice function that chooses any particular correlated equilibrium distribution does not satisfy Maskin monotonicity and therefore cannot be fully implemented in Nash equilibrium. Thus, no mechanism that aims to understand a correlated distribution as the unique outcome of Nash equilibrium play can be found.

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File URL: http://www.sciencedirect.com/science/article/pii/S0899-8256(08)00212-1
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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 69 (2010)
Issue (Month): 1 (May)
Pages: 189-193

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Handle: RePEc:eee:gamebe:v:69:y:2010:i:1:p:189-193
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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  15. Ben-Porath, Elchanan, 1998. "Correlation without Mediation: Expanding the Set of Equilibrium Outcomes by "Cheap" Pre-play Procedures," Journal of Economic Theory, Elsevier, vol. 80(1), pages 108-122, May.
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