IDEAS home Printed from https://ideas.repec.org/a/ebl/ecbull/eb-09-00583.html
   My bibliography  Save this article

Efficient Nash equilibria, individual rights and Pareto principle: an impossibility result

Author

Listed:
  • Enrico Guzzini

    (Università Politecnica delle Marche, Italy)

Abstract

This paper shows an impossibility result similar to the liberal paradox concerning two games, each of one with an efficient Nash equilibrium. We show that our result holds also in dictatorial games.

Suggested Citation

  • Enrico Guzzini, 2010. "Efficient Nash equilibria, individual rights and Pareto principle: an impossibility result," Economics Bulletin, AccessEcon, vol. 30(1), pages 103-114.
    • Handle: RePEc:ebl:ecbull:eb-09-00583
    as

    Download full text from publisher

    File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I1-P10.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gibbard, Allan, 1974. "A Pareto-consistent libertarian claim," Journal of Economic Theory, Elsevier, vol. 7(4), pages 388-410, April.
    2. Sen, Amartya Kumar, 1970. "The Impossibility of a Paretian Liberal," Scholarly Articles 3612779, Harvard University Department of Economics.
    3. Sen, Amartya, 1970. "The Impossibility of a Paretian Liberal," Journal of Political Economy, University of Chicago Press, vol. 78(1), pages 152-157, Jan.-Feb..
    4. Sen, Amartya K, 1976. "Liberty, Unanimity and Rights," Economica, London School of Economics and Political Science, vol. 43(171), pages 217-245, August.
    5. Pattanaik, Prasanta K & Suzumura, Kotaro, 1996. "Individual Rights and Social Evaluation: A Conceptual Framework," Oxford Economic Papers, Oxford University Press, vol. 48(2), pages 194-212, April.
    6. Suzumura, Kotaro & 鈴村, 興太郎 & スズムラ, コウタロウ & Yoshihara, Naoki & 吉原, 直毅 & ヨシハラ, ナオキ, 2006. "On Initial Conferment of Individual Rights," Discussion Paper Series a478, Institute of Economic Research, Hitotsubashi University.
    7. Sen, Amartya, 1992. "Minimal Liberty," Economica, London School of Economics and Political Science, vol. 59(234), pages 139-159, May.
    8. Deb, Rajat & Pattanaik, Prasanta K. & Razzolini, Laura, 1997. "Game Forms, Rights, and the Efficiency of Social Outcomes," Journal of Economic Theory, Elsevier, vol. 72(1), pages 74-95, January.
    9. Gaertner, Wulf & Pattanaik, Prasanta K & Suzumura, Kotaro, 1992. "Individual Rights Revisited," Economica, London School of Economics and Political Science, vol. 59(234), pages 161-177, May.
    10. Suzumura, Kotaro, 1996. "Welfare, Rights, and Social Choice," Economic Review, Hitotsubashi University, vol. 47(1), pages 64-79, January.
    11. Fine, Ben, 1975. "Individual Liberalism in a Paretian Society," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1277-1281, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:ebl:ecbull:v:30:y:2010:i:1:p:103-114 is not listed on IDEAS
    2. Kotaro Suzumura, 2002. "Introduction to social choice and welfare," Temi di discussione (Economic working papers) 442, Bank of Italy, Economic Research and International Relations Area.
    3. Berrens, Robert P. & Polasky, Stephen, 1995. "The Paretian Liberal Paradox and ecological economics," Ecological Economics, Elsevier, vol. 14(1), pages 45-56, July.
    4. E. Guzzini & A. Palestrini, 2012. "Coase theorem and exchangeable rights in non-cooperative games," European Journal of Law and Economics, Springer, vol. 33(1), pages 83-100, February.
    5. Kretz, Claudio, 2021. "Consistent rights on property spaces," Journal of Economic Theory, Elsevier, vol. 197(C).
    6. Perote-Pena, Juan & Piggins, Ashley, 2005. "Pareto efficiency with spatial rights," Journal of Mathematical Economics, Elsevier, vol. 41(3), pages 265-283, April.
    7. Biung-Ghi Ju, 2010. "Individual powers and social consent: an axiomatic approach," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 34(4), pages 571-596, April.
    8. Roth, Timothy P., 2000. "Efficiency: An inappropriate guide to structural transformation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 29(1), pages 109-126.
    9. Herrade Igersheim, 2013. "Invoking a Cartesian product structure on social states," Theory and Decision, Springer, vol. 74(4), pages 463-477, April.
    10. Roth, Timothy P., 1999. "Consequentialism, rights, and the new social welfare theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(1), pages 95-109.
    11. Ngo Long & Vincent Martinet, 2018. "Combining rights and welfarism: a new approach to intertemporal evaluation of social alternatives," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 50(1), pages 35-64, January.
    12. Ben McQuillin & Robert Sugden, 2011. "The representation of alienable and inalienable rights: games in transition function form," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(4), pages 683-706, October.
    13. Piacquadio Paolo G. & Di Bartolomeo Giovanni & Acocella Nicola, 2009. "A simple framework for investigating the properties of policy games," wp.comunite 0059, Department of Communication, University of Teramo.
    14. Maurice Salles, 2006. "La théorie du choix social : de l'importance des mathématiques," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 200617, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
    15. Peleg, Bezalel & Peters, Hans & Storcken, Ton, 2002. "Nash consistent representation of constitutions: a reaction to the Gibbard paradox," Mathematical Social Sciences, Elsevier, vol. 43(2), pages 267-287, March.
    16. Xu, Yongsheng, 2000. "Non‐Discrimination and the Pareto Principle," Economic Review, Hitotsubashi University, vol. 51(1), pages 54-60, January.
    17. Christian Seidl, 1990. "On the impossibility of a generalization of the libertarian resolution of the liberal paradox," Journal of Economics, Springer, vol. 51(1), pages 71-88, February.
    18. Mariotti, Marco & Veneziani, Roberto, 2014. "The Liberal Ethics of Non-Interference and the Pareto Principle," SIRE Discussion Papers 2014-016, Scottish Institute for Research in Economics (SIRE).
    19. Mathias Risse, 2001. "What to Make of the Liberal Paradox?," Theory and Decision, Springer, vol. 50(2), pages 169-196, March.
    20. Serge-Christophe Kolm, 2003. "Macrojustice : distribution, impôts et transferts optimaux," IDEP Working Papers 0305, Institut d'economie publique (IDEP), Marseille, France.
    21. Walter Bossert & Marc Fleurbaey, 2015. "An Interview with Kotaro Suzumura," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(1), pages 179-208, January.

    More about this item

    Keywords

    Liberal paradox; efficient Nash equilibrium; Pareto principle; dictatorial games;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-09-00583. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: John P. Conley (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.