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Irresolute mechanism design: a new path to possibility

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  • Ville Korpela

    (University of Turku)

Abstract

Often preferences in a group of agents are such that any sensible goal must admit a tie between all alternatives. The standard formulation in mechanism design demands that in this case all alternatives must be equilibrium outcomes of the decision making mechanism. However, as far as the idea of an equilibrium is to predict the outcome, we could equally well require that there are no equilibria at all. Although this may seem innocent, it allows the mechanism designer to implement goals that are impossible to enforce with any other implementation concept, like mixed Nash implementation, subgame perfect implementation, or Nash implementation using undominated strategies.

Suggested Citation

  • Ville Korpela, 2023. "Irresolute mechanism design: a new path to possibility," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(4), pages 993-1007, December.
    • Handle: RePEc:spr:jogath:v:52:y:2023:i:4:d:10.1007_s00182-023-00849-0
    DOI: 10.1007/s00182-023-00849-0
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    Keywords

    Condorcet rule; Collective decision making; Implementation; Impossibility results; Nash equilibrium; Social choice theory;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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