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Envy-Freeness and Implementation in Large Economies

Author

Listed:
  • Matthew O. Jackson

    (California Institute of Technology)

  • Ilan Kremer

    (Stanford University)

Abstract

We show that an asymptotic envy-freeness is a necessary condition for a form of robust approximate implementation in large economies.

Suggested Citation

  • Matthew O. Jackson & Ilan Kremer, 2003. "Envy-Freeness and Implementation in Large Economies," Microeconomics 0303008, EconWPA.
  • Handle: RePEc:wpa:wuwpmi:0303008
    Note: Type of Document - ; figures: none
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    File URL: http://econwpa.repec.org/eps/mic/papers/0303/0303008.pdf
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    References listed on IDEAS

    as
    1. Thomas R. Palfrey & Sanjay Srivastava, 1987. "On Bayesian Implementable Allocations," Review of Economic Studies, Oxford University Press, vol. 54(2), pages 193-208.
    2. Dirk Bergemann & Stephen Morris, 2005. "Robust Mechanism Design," Econometrica, Econometric Society, vol. 73(6), pages 1771-1813, November.
    3. George J. Mailath & Andrew Postlewaite, 1990. "Asymmetric Information Bargaining Problems with Many Agents," Review of Economic Studies, Oxford University Press, vol. 57(3), pages 351-367.
    4. Cordoba, Jose M. & Hammond, Peter J., 1998. "Asymptotically strategy-proof Walrasian exchange," Mathematical Social Sciences, Elsevier, vol. 36(3), pages 185-212, December.
    5. Matthew O. Jackson & Alejandro M. Manelli, 1994. "Approximate Competitive Equilibria in Large Economies," Discussion Papers 1101, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    6. Blume, Lawrence & Easley, David, 1990. "Implementation of Walrasian expectations equilibria," Journal of Economic Theory, Elsevier, vol. 51(1), pages 207-227, June.
    7. Barbera, Salvador & Jackson, Matthew O, 1995. "Strategy-Proof Exchange," Econometrica, Econometric Society, vol. 63(1), pages 51-87, January.
    8. Gul, Faruk & Postlewaite, Andrew, 1992. "Asymptotic Efficiency in Large Exchange Economies with Asymmetric Information," Econometrica, Econometric Society, vol. 60(6), pages 1273-1292, November.
    9. Jackson, Matthew O., 1992. "Incentive compatibility and competitive allocations," Economics Letters, Elsevier, vol. 40(3), pages 299-302, November.
    10. Richard McLean & Andrew Postlewaite, 2002. "Informational Size and Incentive Compatibility," Econometrica, Econometric Society, vol. 70(6), pages 2421-2453, November.
    11. Kovalenkov, Alexander, 2002. "Simple Strategy-Proof Approximately Walrasian Mechanisms," Journal of Economic Theory, Elsevier, vol. 103(2), pages 475-487, April.
    12. Roberts, Donald John & Postlewaite, Andrew, 1976. "The Incentives for Price-Taking Behavior in Large Exchange Economies," Econometrica, Econometric Society, vol. 44(1), pages 115-127, January.
    13. Al-Najjar, Nabil I. & Smorodinsky, Rann, 2000. "Pivotal Players and the Characterization of Influence," Journal of Economic Theory, Elsevier, vol. 92(2), pages 318-342, June.
    14. Otani, Yoshihiko & Sicilian, Joseph, 1982. "Equilibrium allocations of Walrasian preference games," Journal of Economic Theory, Elsevier, vol. 27(1), pages 47-68, June.
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    Cited by:

    1. Devanur, Nikhil R. & Hartline, Jason D. & Yan, Qiqi, 2015. "Envy freedom and prior-free mechanism design," Journal of Economic Theory, Elsevier, vol. 156(C), pages 103-143.
    2. Nguyen, Thành & Peivandi, Ahmad & Vohra, Rakesh, 2016. "Assignment problems with complementarities," Journal of Economic Theory, Elsevier, vol. 165(C), pages 209-241.

    More about this item

    Keywords

    implementation; envy-free; Walrasian equilibrium; large economies; public goods;

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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