We derive a necessary and a sufficient condition for Nash implementation with a procedurally fair mechanism. Our result has a nice analogue with the path-braking result of Maskin [Nash equilibrium and welfare optimality, Rev. Econ. Stud. 66 (1999) 23-38.], and therefore, it allows us to give a...

Often preferences of agents are such that any sensible goal of the collective must admit a tie between all alternatives. The standard formulation in mechanism design demand that in this case all alternatives are equilibrium outcomes of the social choice mechanism. However, as far as the idea of...

Agents are farsighted when they consider the ultimate consequences of their actions. We re-examine the classical questions of implementation theory under complete information in a setting with transfers, where farsighted coalitions are considered fundamental behavioral units, and the equilibrium...

A competition authority has an objective, which specifies what output profile firms need to produce as a function of production costs. These costs change over time and are only known by the firms. The objective is implementable if inequilibrium, the firms cannot collude on their reports to the...

Despite the wide variety of agendas used in legislative settings, the literature on sophisticated voting has focused on two formats, the so-called Euro-Latin and Anglo-American agendas. In the current paper, I introduce a broad class of agendas whose defining structural features,...

I develop two related solution concepts, equilibrium coalitional behavior and credible equilibrium coalitional behavior, which capture foresight and impose the requirement that each coalition in a sequence of coalitional moves chooses optimally among all its available options. The model does not...

This paper establishes reserve price as an ethical necessity contrary to its popular interpretation as an instrument of revenue generation. It provides an axiomatic justification to reserve pricing at Vickrey auction in single as well as multiple objects settings. It also provides a multi-object...

Condorcet domains are sets of linear orders with the property that, whenever the preferences of all voters of a society belong to this set, their majority relation has no cycles. We observe that, without loss of generality, every such domain can be assumed to be closed in the sense that it...

In this paper, we study the potential implications of a novel yet natural voting system: strategic sequential voting. Each voter has one vote and can choose when to cast his vote. After each voting period, the current count of votes is publicized enabling subsequent voters to use this...

It is proved that, among all restricted preference domains that guarantee consistency (i.e. transitivity) of pairwise majority voting, the single-peaked domain is the only minimally rich and connected domain that contains two completely reversed strict preference orders. It is argued that this...