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The authors study the problem of implementing social choice correspondences via Nash equilibrium in which no one uses a weakly dominated strategy. The main result is that if there are at least three agents in society, then any correspondence that satisfies no veto power is implementable unless...
Persistent link: https://www.econbiz.de/10005332110
This paper studies the problem of implementation of allocation rules in economic environments when agents are incompletely informed about the environment. The concept of equilibrium used is that of Bayesian Nash equilibrium. The authors show that a condition called Bayesian monotonicity is...
Persistent link: https://www.econbiz.de/10005231677