IDEAS home Printed from https://ideas.repec.org/a/spr/joecth/v5y1995i3p401-17.html
   My bibliography  Save this article

Nash Implementation in Production Economies

Author

Listed:
  • Hong, Lu

Abstract

This paper provides a general way to incorporate private ownership production economies into the implementation of the Walrasian correspondence. We present two mechanisms, both of which permit agents to behave strategically with respect to their initial endowments, preferences, and production possibility sets. The first mechanism deals with the case of endowment destruction, the second deals with the case of endowment withholding. We show that each mechanism Nash implements the Walrasian correspondence. In addition, both mechanisms are individually feasible, balanced, continuous and only require the transmission of prices and quantities of goods as messages.

Suggested Citation

  • Hong, Lu, 1995. "Nash Implementation in Production Economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(3), pages 401-417, May.
    • Handle: RePEc:spr:joecth:v:5:y:1995:i:3:p:401-17
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tian, Guoqiang, 2009. "Implementation of Pareto efficient allocations," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 113-123, January.
    2. Akira Yamada & Naoki Yoshihara, 2007. "Triple implementation by sharing mechanisms in production economies with unequal labor skills," International Journal of Game Theory, Springer;Game Theory Society, vol. 36(1), pages 85-106, September.
    3. Naoki Yoshihara & Akira Yamada, 2019. "Nash implementation in production economies with unequal skills: a characterization," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(1), pages 113-134, June.
    4. Corchón, Luis C. & Triossi, Matteo, 2005. "Implementation with state dependent feasible sets and preferences: a renegotiation approach," UC3M Working papers. Economics we057136, Universidad Carlos III de Madrid. Departamento de Economía.
    5. Giraud, Gael & Rochon, Celine, 2002. "Consistent collusion-proofness and correlation in exchange economies," Journal of Mathematical Economics, Elsevier, vol. 38(4), pages 441-463, December.
    6. Gavan, Malachy James & Penta, Antonio, 2022. "Safe Implementation," TSE Working Papers 22-1369, Toulouse School of Economics (TSE).
    7. 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 949-980, November.
    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. Tian, Guoqiang, 2000. "Incentive Mechanism Design for Production Economies with Both Private and Public Ownerships," Games and Economic Behavior, Elsevier, vol. 33(2), pages 294-320, November.
    10. Luis Corchón & Matteo Triossi, 2011. "Implementation with renegotiation when preferences and feasible sets are state dependent," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 36(2), pages 179-198, February.
    11. 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.
    12. 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.
    13. Malachy James Gavan & Antonio Penta, 2022. "Safe Implementation," Working Papers 1363, Barcelona School of Economics.
    14. Kaplan, Todd R. & Wettstein, David, 1999. "Cost sharing: efficiency and implementation," Journal of Mathematical Economics, Elsevier, vol. 32(4), pages 489-502, December.
    15. Tian, Guoqiang, 2005. "Implementation in production economies with increasing returns," Mathematical Social Sciences, Elsevier, vol. 49(3), pages 309-325, May.
    16. Hong, Lu, 1998. "Feasible Bayesian Implementation with State Dependent Feasible Sets," Journal of Economic Theory, Elsevier, vol. 80(2), pages 201-221, June.
    17. Tian, Guoqiang, 2009. "Implementation in economies with non-convex production technologies unknown to the designer," Games and Economic Behavior, Elsevier, vol. 66(1), pages 526-545, May.
    18. Tian, Guoqiang, 2000. "Implementation of balanced linear cost share equilibrium solution in Nash and strong Nash equilibria," Journal of Public Economics, Elsevier, vol. 76(2), pages 239-261, May.
    19. Tian, Guoqiang, 2002. "Implementation of Walrasian Allocations in Economies with Infinite Dimension Commodity Spaces," MPRA Paper 41228, University Library of Munich, Germany.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:5:y:1995:i:3:p:401-17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.