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This paper is concerned with the realism of mechanisms that implement social choice functions in the traditional sense …
Persistent link: https://www.econbiz.de/10005772028
This paper studies the equilibrating process of several implementation mechanisms using naive adaptive dynamics. We … implementation with refined equilibrium concepts have claimed that the mechanisms they propose are ``simple'' and implement … show that the dynamics converge and are stable, for the canonical mechanism of implementation in Nash equilibrium. In this …
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
Restricting attention to economic environments, we study implementation under perturbed better-response dynamics (BRD …
Persistent link: https://www.econbiz.de/10010317077
We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions … implementation in better-response dynamics (BRD) is a small variation of Maskin monotonicity, which we call quasimonotonicity. We … also provide a mechanism for implementation in BRD if the rule is quasimonotonic and excludes worst alternatives – no worst …
Persistent link: https://www.econbiz.de/10010577250
Restricting attention to economic environments, we study implementation under perturbed better-response dynamics (BRD …
Persistent link: https://www.econbiz.de/10008876323
We study the implementation problem when players are prone to make mistakes. To capture the idea of mistakes, Logit … worst alternative are the necessary conditions for restricted Limit LQRE (LLQRE) implementation. Moreover, these conditions …
Persistent link: https://www.econbiz.de/10010603331
We study the classical implementation problem when players are prone to make mis- takes. To capture the idea of … Maskin Monotonicity, and no worst alternative conditions are necessary for restricted Limiting LQRE (LLQRE) implementation …
Persistent link: https://www.econbiz.de/10009652364
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 convergence and stability properties of Sjöström's (1994) mechanism, under the assumption that boundedly rational players find their way to equilibrium using monotonic learning dynamics and best-reply dynamics. This mechanism implements most social choice functions in...
Persistent link: https://www.econbiz.de/10005731222