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On Maskin monotonicity of solution based social choice rules

  • Claus-Jochen Haake

    ()

    (Institute of Mathematical Economics, Bielefeld University)

  • Walter Trockel

    ()

    (Institute of Mathematical Economics, Bielefeld University)

Howard (1992) argues that the Nash bargaining solution is not Nash implementable, as it does not satisfy Maskin monotonicity. His arguments can be extended to other bargaining solutions as well. However, by de.ning a social choice correspondence that is based on the solution rather than on its realizations, one can overcome this shortcoming. We even show that such correspondences satisfy a stronger version of monotonicity that is even su.cient for Nash implementability.

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File URL: http://www.imw.uni-bielefeld.de/papers/files/imw-wp-393.pdf
File Function: First version, 2007
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Paper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 393.

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Length: 11 pages
Date of creation: Jul 2007
Date of revision:
Handle: RePEc:bie:wpaper:393
Contact details of provider: Postal: Postfach 10 01 31, 33501 Bielefeld
Phone: +49(0)521-106-4907
Web page: http://www.imw.uni-bielefeld.de/
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  1. Howard, J. V., 1992. "A social choice rule and its implementation in perfect equilibrium," Journal of Economic Theory, Elsevier, vol. 56(1), pages 142-159, February.
  2. Dagan, Nir & Serrano, Roberto, 1998. "Invariance and randomness in the Nash program for coalitional games," Economics Letters, Elsevier, vol. 58(1), pages 43-49, January.
  3. Eric van Damme, 1984. "The Nash Bargaining Solution is Optimal," Discussion Papers 597, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Walter Trockel, 2000. "Implementations of the Nash solution based on its Walrasian characterization," Economic Theory, Springer, vol. 16(2), pages 277-294.
  5. Trockel,W., 1999. "Unique Nash implementation for a class of bargaining solutions," Working Papers 308, Bielefeld University, Center for Mathematical Economics.
  6. Naeve, Jorg, 1999. "Nash implementation of the Nash bargaining solution using intuitive message spaces," Economics Letters, Elsevier, vol. 62(1), pages 23-28, January.
  7. Roberto Serrano, 2005. "Fifty years of the Nash program, 1953-2003," Investigaciones Economicas, FundaciĆ³n SEPI, vol. 29(2), pages 219-258, May.
  8. Bergin, James & Duggan, John, 1999. "An Implementation-Theoretic Approach to Non-cooperative Foundations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 50-76, May.
  9. Danilov, Vladimir, 1992. "Implementation via Nash Equilibria," Econometrica, Econometric Society, vol. 60(1), pages 43-56, January.
  10. Roberto Serrano, 1996. "A comment on the Nash program and the theory of implementation," Economics Working Papers 161, Department of Economics and Business, Universitat Pompeu Fabra.
  11. Leonid Hurwicz, 1994. "Economic design, adjustment processes, mechanisms, and institutions," Review of Economic Design, Springer, vol. 1(1), pages 1-14, December.
  12. Damme, Eric van, 1986. "The Nash bargaining solution is optimal," Journal of Economic Theory, Elsevier, vol. 38(1), pages 78-100, February.
  13. Walter Trockel, 2002. "Integrating the Nash program into mechanism theory," Review of Economic Design, Springer, vol. 7(1), pages 27-43.
  14. repec:ner:tilbur:urn:nbn:nl:ui:12-154426 is not listed on IDEAS
  15. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  16. Maskin, Eric, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Wiley Blackwell, vol. 66(1), pages 23-38, January.
  17. Trockel,W., 2001. "Can and should the Nash program be looked at as a part of mechanism theory?," Working Papers 322, Bielefeld University, Center for Mathematical Economics.
  18. Roberto Serrano, 2007. "Nash program," Working Papers 2007-05, Instituto MadrileƱo de Estudios Avanzados (IMDEA) Ciencias Sociales.
  19. Yamato, Takehiko, 1992. "On nash implementation of social choice correspondences," Games and Economic Behavior, Elsevier, vol. 4(3), pages 484-492, July.
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