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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. Cabrales, Antonio & Serrano, Roberto, 2007. "Implementation in adaptive better-response dynamics," UC3M Working papers. Economics we075731, Universidad Carlos III de Madrid. Departamento de Economía.
  2. Jörg Stoye, 2011. "Statistical decisions under ambiguity," Theory and Decision, Springer, vol. 70(2), pages 129-148, February.
  3. Maskin, Eric & Sjostrom, Tomas, 2001. "Implementation Theory," Working Papers 5-01-1, Pennsylvania State University, Department of Economics.
  4. 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.
  5. Ludovic Renou & Karl H. Schlag, 2008. "Minimax regret and strategic uncertainty," Discussion Papers in Economics 08/2, Department of Economics, University of Leicester, revised Apr 2008.
  6. 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.
  7. Dirk Bergemann & Stephen Morris & Olivier Tercieux, 2010. "Rationalizable Implementation," Cowles Foundation Discussion Papers 1697R, Cowles Foundation for Research in Economics, Yale University.
  8. 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.
  9. Matthew, Jackson O. & Palfrey, Thomas R. & Srivastava, Sanjay., 1990. "Undominated Nash Implementation in Bounded Mechanism," Working Papers 754, California Institute of Technology, Division of the Humanities and Social Sciences.
  10. Sjostrom, T., 1991. "Implementation in Undominated Nash Equilibria without Integer Games," Papers 491, Stockholm - International Economic Studies.
  11. Palfrey, Thomas R & Srivastava, Sanjay, 1991. "Nash Implementation Using Undominated Strategies," Econometrica, Econometric Society, vol. 59(2), pages 479-501, March.
  12. Claudio Mezzetti & Ludovic Renou, 2009. "Implementation in Mixed Nash Equilibrium," The Warwick Economics Research Paper Series (TWERPS) 902, University of Warwick, Department of Economics.
  13. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
  14. Hayashi, Takashi, 2008. "Regret aversion and opportunity dependence," Journal of Economic Theory, Elsevier, vol. 139(1), pages 242-268, March.
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