MPEs for high discount factors is developed. For some networks, we find that all MPEs are asymptotically inefficient as …

agreements, create severe hurdles to the attainment of efficiency in equilibrium. For many networks all Markov perfect equilibria …

“mechanism” to ensure a Pareto-efficient outcome. We survey some of the main findings of the mechanism-design (implementation …-theory) literature – such as the Nash implementation theorem, the Gibbard–Satterthwaite theorem, the Vickrey–Clarke–Groves mechanism, and …

We extend implementation theory by allowing the social choice function to depend on more than just the preferences of … is necessary for the implementation of a social choice function f when the preferences of the agents are state … independent and sufficient for implementation for any preferences (including state dependent) with at least three agents if the …

are assigned on the other. Their simple design make the rules ideal for practical implementation through smart contracts …