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Implementation via mechanisms with transfers

  • Yi, Jianxin

We consider the following problem: suppose that the social choice rule is given, but the planner has the opportunity to redistribute among agents some numeraire commodity ("money") by compensatory transfers; can the planner find a transfer such that the social choice rule is Nash implementable by the transfer? In this paper, we establish a necessary and sufficient condition for Nash implementation by transfers. Furthermore, we construct a simplified mechanism, which Nash-implements the desired social choice rule by transfers.

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Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 61 (2011)
Issue (Month): 1 (January)
Pages: 65-70

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Handle: RePEc:eee:matsoc:v:61:y:2011:i:1:p:65-70
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  1. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
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