Showing 1 - 5 of 5
We perform an experimental test of a modification of the controversial canonical mechanism for Nash implementation … feasibility of such implementation. In addition, the performance is further improved by imposing a fine on a dissident, so that … experiments can identify reasonable features for practical implementation mechanisms. …
Persistent link: https://www.econbiz.de/10010538282
This paper is concerned with the realism of mechanisms that implement social choice functions in the traditional sense. Will agents actually play the equilibrium assumed by the analysis? As an example, we study the convergence and stability properties of Sj\"ostr\"om's (1994) mechanism, on the...
Persistent link: https://www.econbiz.de/10005772028
We perform an experimental test of Maskin's canonical mechanism for Nash implementation, using 3 subjects in non … some explanations for the imperfect implementation, including risk preferences, the possibilities that agents have for …
Persistent link: https://www.econbiz.de/10005772110
This paper studies the equilibrating process of several implementation mechanisms using naive adaptive dynamics. We … show that the dynamics converge and are stable, for the canonical mechanism of implementation in Nash equilibrium. In this … implementation with refined equilibrium concepts have claimed that the mechanisms they propose are ``simple'' and implement …
Persistent link: https://www.econbiz.de/10005772289
We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions … information. First, we show that a necessary condition for assymptotically stable implementation is a small variation of (Maskin … Nash implementation which has good dynamic properties if the rule is quasimonotonic. Thus, quasimonotonicity is both …
Persistent link: https://www.econbiz.de/10005168666