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Implementation in minimax regret equilibrium

Listed author(s):
  • Renou, Ludovic
  • Schlag, Karl H.

This Note studies the problem of implementing social choice correspondences in environments where individuals have doubts about the rationality of their opponents. We postulate the concept of [epsilon]-minimax regret as our solution concept and show that social choice correspondences that are Maskin monotonic and satisfy the no-veto power condition are implementable in [epsilon]-minimax regret equilibrium for all [epsilon][set membership, variant][0,1).

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File URL: http://www.sciencedirect.com/science/article/pii/S0899-8256(10)00099-0
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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 71 (2011)
Issue (Month): 2 (March)
Pages: 527-533

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Handle: RePEc:eee:gamebe:v:71:y:2011:i:2:p:527-533
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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  1. Dirk Bergemann & Stephen Morris & Olivier Tercieux, 2012. "Rationalizable Implementation," World Scientific Book Chapters,in: Robust Mechanism Design The Role of Private Information and Higher Order Beliefs, chapter 11, pages 375-404 World Scientific Publishing Co. Pte. Ltd..
  2. Renou, Ludovic & Schlag, Karl H., 2010. "Minimax regret and strategic uncertainty," Journal of Economic Theory, Elsevier, vol. 145(1), pages 264-286, January.
  3. Tumennasan, Norovsambuu, 2013. "To err is human: Implementation in quantal response equilibria," Games and Economic Behavior, Elsevier, vol. 77(1), pages 138-152.
  4. Mezzetti, Claudio & Renou, Ludovic, 2012. "Implementation in mixed Nash equilibrium," Journal of Economic Theory, Elsevier, vol. 147(6), pages 2357-2375.
  5. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
  6. Jackson Matthew O. & Palfrey Thomas R. & Srivastava Sanjay, 1994. "Undominated Nash Implementation in Bounded Mechanisms," Games and Economic Behavior, Elsevier, vol. 6(3), pages 474-501, May.
  7. Roberto Serrano & Antonio Cabrales, 2007. "Implementation in Adaptive Better-Response Dynamics," Working Papers 2007-10, Brown University, Department of Economics.
  8. Matthew O. Jackson, 1992. "Implementation in Undominated Strategies: A Look at Bounded Mechanisms," Review of Economic Studies, Oxford University Press, vol. 59(4), pages 757-775.
  9. Palfrey, Thomas R & Srivastava, Sanjay, 1991. "Nash Implementation Using Undominated Strategies," Econometrica, Econometric Society, vol. 59(2), pages 479-501, March.
  10. Hayashi, Takashi, 2008. "Regret aversion and opportunity dependence," Journal of Economic Theory, Elsevier, vol. 139(1), pages 242-268, March.
  11. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 655-708.
  12. Jörg Stoye, 2011. "Statistical decisions under ambiguity," Theory and Decision, Springer, vol. 70(2), pages 129-148, February.
  13. Sjostrom Tomas, 1994. "Implementation in Undominated Nash Equilibria without Integer Games," Games and Economic Behavior, Elsevier, vol. 6(3), pages 502-511, May.
  14. 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.
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