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Implementation in minimax regret equilibrium

  • 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. Jackson, Matthew O., 1999. "A Crash Course in Implementation Theory," Working Papers 1076, California Institute of Technology, Division of the Humanities and Social Sciences.
  2. Dirk Bergemann & Stephen Morris & Olivier Tercieux, 2010. "Rationalizable Implementation," Levine's Working Paper Archive 661465000000000022, David K. Levine.
  3. Norovsambuu Tumennasan, 2011. "To Err is Human: Implementation in Quantal Response Equilibria," Economics Working Papers 2011-11, Department of Economics and Business Economics, Aarhus University.
  4. Hayashi, Takashi, 2008. "Regret aversion and opportunity dependence," Journal of Economic Theory, Elsevier, vol. 139(1), pages 242-268, March.
  5. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
  6. Ludovic Renou & Karl Schlag, 2008. "Minimax regret and strategic uncertainty," Economics Working Papers 1087, Department of Economics and Business, Universitat Pompeu Fabra.
  7. Sjostrom, T., 1991. "Implementation in Undominated Nash Equilibria without Integer Games," Papers 491, Stockholm - International Economic Studies.
  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.
  9. Roberto Serrano & Antonio Cabrales, 2007. "Implemetation In Adaptive Better-Response Dynamics," Working Papers wp2007_0708, CEMFI.
  10. Matthew O. Jackson, 1990. "Undominated Nash Implementation in Bounded Mechanisms," Discussion Papers 966, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  11. Claudio Mezzetti & Ludovic Renou, 2009. "Implementation in Mixed Nash Equilibrium," Discussion Papers in Economics 09/10, Department of Economics, University of Leicester, revised Jan 2010.
  12. Matthew 0. Jackson, 1989. "Implementation in Undominated Strategies - A Look at Bounded Mechanisms," Discussion Papers 833, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  13. Palfrey, Thomas R & Srivastava, Sanjay, 1991. "Nash Implementation Using Undominated Strategies," Econometrica, Econometric Society, vol. 59(2), pages 479-501, March.
  14. Jörg Stoye, 2011. "Statistical decisions under ambiguity," Theory and Decision, Springer, vol. 70(2), pages 129-148, February.
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