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Voluntary Implementation

  • Jackson, Matthew O.
  • Palfrey, Thomas R.

We examine Nash implementation when individuals cannot be forced to accept the outcome of a mechanism. Two approaches are studied. The first approach is static where a state-contingent participation constraint de nes an implicit mapping from rejected outcomes into outcomes that are individually rational. We call this voluntary implementation, and show that the constrained Walrasian correspondence is not voluntarily implementable. The second approach is dynamic where a mechanism is replayed if the outcome at any stage is vetoed by one of the agents. We call this stationary implementation, and show that if players discount the future in any way, then the constrained Walrasian correspondence is stationarily implementable.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 98 (2001)
Issue (Month): 1 (May)
Pages: 1-25

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Handle: RePEc:eee:jetheo:v:98:y:2001:i:1:p:1-25
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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  1. Ariel Rubinstein & Asher Wolinsky, 1989. "Renegotiation-Proof Implementation and Time Preferences," Discussion Papers 850, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Sandeep Baliga & Tomas Sjostrom, 1996. "Interactive Implementation," Harvard Institute of Economic Research Working Papers 1751, Harvard - Institute of Economic Research.
  3. Leonid Hurwicz, 1994. "Economic design, adjustment processes, mechanisms, and institutions," Review of Economic Design, Springer, vol. 1(1), pages 1-14, December.
  4. Baliga, Sandeep & Corchon, Luis C. & Sjostrom, Tomas, 1997. "The Theory of Implementation When the Planner Is a Player," Journal of Economic Theory, Elsevier, vol. 77(1), pages 15-33, November.
  5. Eric Maskin, 1998. "Nash Equilibrium and Welfare Optimality," Harvard Institute of Economic Research Working Papers 1829, Harvard - Institute of Economic Research.
  6. Matthew O. Jackson & Thomas R. Palfrey, 1998. "Efficiency and Voluntary Implementation in Markets with Repeated Pairwise Bargaining," Econometrica, Econometric Society, vol. 66(6), pages 1353-1388, November.
  7. Ehud Kalai & John O. Ledyard, 1997. "Repeated Implementation," Discussion Papers 1205, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
  9. Arya, Anil & Glover, Jonathan & Hughes, John S., 1997. "Implementing Coordinated Team Play," Journal of Economic Theory, Elsevier, vol. 74(1), pages 218-232, May.
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