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The Theory Of Implementation When The Planner Is A Player

  • Luis Corchón

    ()

    (Universidad de Alicante)

  • Sandeep Baliga

    (King's College, Cambridge University)

  • Tomas Sjöström

    (Harvard University)

In this paper we study a situation were the planner cannot commit to a mechanism and the outcome function is substituted by the planner herself. We assume 1) agents have complete information and play simultaneously; and 2) given the messages announced by the agents, the planner reacts in an optimal way given her beliefs. This transforms the implementation problem into a signaling game. We derive necessary and sufficient conditions for interactive implementation under different restrictions on the planner's out-of-equilibrium beliefs. We compare our results to standard results on Nash implementation.

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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1995-14.

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Length: 44 pages
Date of creation: May 1995
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:1995-14
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  1. Farrell Joseph, 1993. "Meaning and Credibility in Cheap-Talk Games," Games and Economic Behavior, Elsevier, vol. 5(4), pages 514-531, October.
  2. Grossman, Sanford J. & Perry, Motty, 1986. "Perfect sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 39(1), pages 97-119, June.
  3. Amartya K. Sen, 1966. "Peasants and Dualism with or without Surplus Labor," Journal of Political Economy, University of Chicago Press, vol. 74, pages 425.
  4. Maskin, Eric & Tirole, Jean, 1992. "The Principal-Agent Relationship with an Informed Principal, II: Common Values," Econometrica, Econometric Society, vol. 60(1), pages 1-42, January.
  5. Becker, Gary S, 1974. "A Theory of Social Interactions," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1063-93, Nov.-Dec..
  6. In-Koo Cho & David M. Kreps, 1997. "Signaling Games and Stable Equilibria," Levine's Working Paper Archive 896, David K. Levine.
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