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Implementation of Pareto efficient allocations

  • Tian, Guoqiang

This paper considers Nash implementation and double implementation of Pareto efficient allocations for production economies. We allow production sets and preferences are unknown to the planner. We present a well-behaved mechanism that fully implements Pareto efficient allocations in Nash equilibrium. The mechanism then is modified to fully doubly implement Pareto efficient allocations in Nash and strong Nash equilibria. The mechanisms constructed in the paper have many nice properties such as feasibility and continuity. In addition, they use finite-dimensional message spaces. Furthermore, the mechanism works not only for three or more agents, but also for two-agent economies.

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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 45 (2009)
Issue (Month): 1-2 (January)
Pages: 113-123

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Handle: RePEc:eee:mateco:v:45:y:2009:i:1-2:p:113-123
Contact details of provider: Web page: http://www.elsevier.com/locate/jmateco

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  1. Hiroaki Osana, 1997. "Nash-implementation of the weak Pareto choice rule for indecomposable environments," Review of Economic Design, Springer, vol. 3(1), pages 57-74.
  2. Bezalel Peleg, 1996. "Double implementation of the Lindahl equilibrium by a continuous mechanism," Review of Economic Design, Springer, vol. 2(1), pages 311-324, December.
  3. Luca Anderlini & Paolo Siconolfi, 2004. "Efficient provision of public goods with endogenous redistribution," Review of Economic Design, Springer, vol. 8(4), pages 413-447, 04.
  4. John Duggan, . "Nash implementation with a Private Good," Wallis Working Papers WP25, University of Rochester - Wallis Institute of Political Economy.
  5. Bhaskar Dutta & Arunava Sen & Rajiv Vohra, 1994. "Nash implementation through elementary mechanisms in economic environments," Review of Economic Design, Springer, vol. 1(1), pages 173-203, December.
  6. Tian, Guoqiang, 2003. "A solution to the problem of consumption externalities," Journal of Mathematical Economics, Elsevier, vol. 39(8), pages 831-847, November.
  7. Hong, Lu, 1995. "Nash Implementation in Production Economies," Economic Theory, Springer, vol. 5(3), pages 401-17, May.
  8. Saijo, Tatsuyoshi & Tatamitani, Yoshikatsu & Yamato, Takehiko, 1996. "Toward Natural Implementation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 949-80, November.
  9. Groves, Theodore & Ledyard, John O, 1977. "Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem," Econometrica, Econometric Society, vol. 45(4), pages 783-809, May.
  10. Guoqiang Tian, 1999. "Double implementation in economies with production technologies unknown to the designer," Economic Theory, Springer, vol. 13(3), pages 689-707.
  11. Sang-Chul Suh, 1997. "Double implementation in Nash and strong Nash equilibria," Social Choice and Welfare, Springer, vol. 14(3), pages 439-447.
  12. Hurwicz, L, 1979. "Outcome Functions Yielding Walrasian and Lindahl Allocations at Nash Equilibrium Points," Review of Economic Studies, Wiley Blackwell, vol. 46(2), pages 217-25, April.
  13. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, March.
  14. Naoki Yoshihara, 1999. "Natural and double implementation of public ownership solutions in differentiable production economies," Review of Economic Design, Springer, vol. 4(2), pages 127-151.
  15. Schmeidler, David, 1980. "Walrasian Analysis via Strategic Outcome Functions," Econometrica, Econometric Society, vol. 48(7), pages 1585-93, November.
  16. Tian, Guoqiang, 1996. "Continuous and Feasible Implementation of Rational-Expectations Lindahl Allocations," Games and Economic Behavior, Elsevier, vol. 16(1), pages 135-151, September.
  17. Tian Guoqiang, 1994. "Implementation of Linear Cost Share Equilibrium Allocations," Journal of Economic Theory, Elsevier, vol. 64(2), pages 568-584, December.
  18. Tian, Guoqiang, 1989. "Implementation of the Lindahl Correspondence by a Single-Valued, Feasible, and Continuous Mechanism," Review of Economic Studies, Wiley Blackwell, vol. 56(4), pages 613-21, October.
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