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Nash implementation via simple stochastic mechanisms: strategy space reduction

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  • Michele Lombardi

Abstract

Benoît and Ok (Games Econ Behav 64:51–67, 2008 ) show that in a society with at least three agents any weakly unanimous social choice correspondence (SCC) is Maskin’s monotonic if and only if it is Nash-implementable via a simple stochastic mechanism (Benoît-Ok’s Theorem). This paper fully identifies the class of weakly unanimous SCCs that are Nash-implementable via a simple stochastic mechanism endowed with Saijo’s message space specification (Saijo in Econometrica 56:693–700, 1988 ). It is shown that this class of SCCs is equivalent to the class of SCCs that are Nash-implementable via Benoît-Ok’s Theorem. Copyright The Author(s) 2012

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  • Michele Lombardi, 2012. "Nash implementation via simple stochastic mechanisms: strategy space reduction," Review of Economic Design, Springer;Society for Economic Design, vol. 16(4), pages 297-309, December.
    • Handle: RePEc:spr:reecde:v:16:y:2012:i:4:p:297-309
    DOI: 10.1007/s10058-012-0117-7
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    References listed on IDEAS

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    1. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 23-38.
    2. Benoît, Jean-Pierre & Ok, Efe A., 2008. "Nash implementation without no-veto power," Games and Economic Behavior, Elsevier, vol. 64(1), pages 51-67, September.
    3. Michele Lombardi & Naoki Yoshihara, 2013. "A full characterization of nash implementation with strategy space reduction," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 131-151, September.
    4. Yamato, Takehiko, 1992. "On nash implementation of social choice correspondences," Games and Economic Behavior, Elsevier, vol. 4(3), pages 484-492, July.
    5. Danilov, Vladimir, 1992. "Implementation via Nash Equilibria," Econometrica, Econometric Society, vol. 60(1), pages 43-56, January.
    6. Saijo, Tatsuyoshi, 1988. "Strategy Space Reduction in Maskin's Theorem: Sufficient Conditions for Nash Implementation," Econometrica, Econometric Society, vol. 56(3), pages 693-700, May.
    7. Lombardi, Michele & Yoshihara, Naoki & 吉原, 直毅, 2011. "Partially-honest Nash implementation: Characterization results," CCES Discussion Paper Series 43, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
    8. Moore, John & Repullo, Rafael, 1990. "Nash Implementation: A Full Characterization," Econometrica, Econometric Society, vol. 58(5), pages 1083-1099, September.
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    Cited by:

    1. Michele Lombardi & Naoki Yoshihara, 2013. "A full characterization of nash implementation with strategy space reduction," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(1), pages 131-151, September.
    2. Azacis, Helmuts & Vida, Péter, 2015. "Repeated Implementation," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 518, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    3. Jianxin Yi, 2021. "Nash implementation via mechanisms that allow for abstentions," Theory and Decision, Springer, vol. 91(2), pages 279-288, September.

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    More about this item

    Keywords

    Nash implementation; Strategy space reduction; Informational efficiency; Simple stochastic mechanisms; C72; D71;
    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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