Showing 1 - 10 of 40
Persistent link: https://www.econbiz.de/10010988774
We apply the idea of partial honesty, first introduced by Dutta and Sen (Game Econ Behav 74:154–169, <CitationRef CitationID="CR7">2012</CitationRef>) in a complete information setting, to environments with incomplete information. We show that with private values and at least three individuals, incentive compatibility and no veto power...</citationref>
Persistent link: https://www.econbiz.de/10010998918
Numerous simple proofs of the celebrated Gibbard-Satterthwaite theorem (Gibbard, 1977, Satterthwaite, 1975) has been given in the literature. These are based on a number of different intuitions about the most fundamental reason for the result. In this paper we derive the Gibbard-Satterthwaite...
Persistent link: https://www.econbiz.de/10010614983
In an important step forward Maskin [E. Maskin, Nash equilibrium and welfare optimality, Rev. Econ. Stud. 66 (1999) 23–38] showed that two properties – monotonicity and no veto power – are together sufficient for Nash implementation. In contrast to the vast literature that followed, this...
Persistent link: https://www.econbiz.de/10010702855
The first full characterization of social choice correspondences that are implementable in Nash equilibrium, given in Moore and Repullo (1990), together with the working principle behind an algorithm to check this condition, given in Sjöström (1991), can be used to give a simple necessary and...
Persistent link: https://www.econbiz.de/10008866942
We say that a society has a weak norm against lying if, all other things being equal, agents rather lie in such a way that they do not get caught. We show that if this is the case, and it usually is, then Bayesian monotonicity is no longer a constraint in implementation and all incentive...
Persistent link: https://www.econbiz.de/10011096879
The paper fully characterizes the class of Nash implementable social choice correspondences (SCCs) by mechanisms endowed with Saijo’s message space specification—<InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$s$$</EquationSource> </InlineEquation>-mechanisms. This class of SCCs is equivalent to the class of Nash implementable SCCs, though any game form involving...</equationsource></inlineequation>
Persistent link: https://www.econbiz.de/10010993561
Benoît and Ok (Games Econ Behav 64:51–67, <CitationRef CitationID="CR1">2008</CitationRef>) show that in a society with at least three agents any weakly unanimous social choice correspondence (SCC) is Maskin’s monotonic if and only if it is Nash-implementable via a simple stochastic mechanism (Benoît-Ok’s Theorem). This paper...</citationref>
Persistent link: https://www.econbiz.de/10010994720
This paper analyses the implications of classical liberal and libertarian approaches for distributive justice in the context of social welfare orderings. An axiom capturing a liberal non-interfering view of society, named the Weak Harm Principle, is studied, whose roots can be traced back to...
Persistent link: https://www.econbiz.de/10010902491
We study Nash implementation by natural price-quantity mechanisms in pure exchange economies with free-disposal (Saijo et al., 1996, 1999) where agents have weak/strong intrinsic preferences for honesty (Dutta and Sen, 2012). Firstly, the Walrasian rule is shown to be non-implementable where all...
Persistent link: https://www.econbiz.de/10010934350