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Two-agent Nash implementation: A new result

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  • Wu, Haoyang

Abstract

[Moore and Repullo, \emph{Econometrica} \textbf{58} (1990) 1083-1099] and [Dutta and Sen, \emph{Rev. Econom. Stud.} \textbf{58} (1991) 121-128] are two fundamental papers on two-agent Nash implementation. Both of them are based on Maskin's classic paper [Maskin, \emph{Rev. Econom. Stud.} \textbf{66} (1999) 23-38]. A recent work [Wu, http://arxiv.org/abs/1002.4294, \emph{Inter. J. Quantum Information}, 2010 (accepted)] shows that when an additional condition is satisfied, the Maskin's theorem will no longer hold by using a quantum mechanism. Furthermore, this result holds in the macro world by using an algorithmic mechanism. In this paper, we will investigate two-agent Nash implementation by virtue of the algorithmic mechanism. The main result is: The sufficient and necessary conditions for Nash implementation with two agents shall be amended, not only in the quantum world, but also in the macro world.

Suggested Citation

  • Wu, Haoyang, 2011. "Two-agent Nash implementation: A new result," MPRA Paper 30068, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:30068
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    File URL: https://mpra.ub.uni-muenchen.de/30068/1/MPRA_paper_30068.pdf
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    References listed on IDEAS

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    1. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
    2. Bhaskar Dutta & Arunava Sen, 1991. "A Necessary and Sufficient Condition for Two-Person Nash Implementation," Review of Economic Studies, Oxford University Press, vol. 58(1), pages 121-128.
    3. Francesca Busetto & Giulio Codognato, 2009. "Reconsidering two-agent Nash implementation," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 32(2), pages 171-179, February.
    4. Moore, John & Repullo, Rafael, 1990. "Nash Implementation: A Full Characterization," Econometrica, Econometric Society, vol. 58(5), pages 1083-1099, September.
    5. Wu, Haoyang, 2011. "On amending the sufficient conditions for Nash implementation," MPRA Paper 30067, University Library of Munich, Germany.
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    Cited by:

    1. Wu, Haoyang, 2011. "Subgame perfect implementation: A new result," MPRA Paper 30286, University Library of Munich, Germany.

    More about this item

    Keywords

    Quantum game theory; Mechanism design; Nash implementation.;

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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