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A choice behavior is rational if it is made in accordance with the maximization of some context-independent preference relation. This paper re-examines the classical questions of implementation theory under complete information in a setting in which players' choices need not be rational and in...
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In this paper, we re-examine the classical questions of implementation theory under complete information in a setting where coalitions are the fundamental behavioral units and the outcomes of their interactions are predicted by applying the solution concept of the core. The planner's exercise...
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Implementation of a solution can be thought of as a way to design power distribution in a society such that for each admissible preference profile, the set of equilibrium outcomes coincides with the set of outcomes that the solution would select for it. By using the notion of a rights structure...
Persistent link: https://www.econbiz.de/10012913468
We study rotation programs within the standard implementation framework under complete information. A rotation program is a myopic stable set whose states are arranged circularly, and agents can effectively move only between two consecutive states. We provide characterizing conditions for the...
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