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Time and Nash implementation

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  • Artemov, Georgy

Abstract

In this paper, we study the full implementation problem using mechanisms that allow a delay. The delay on the equilibrium path may be zero, an infinitesimally small number or a fixed positive number. In all these three cases, implementable rules are fully characterized by a monotonicity condition. We provide examples to show that some delayed implementable social choice rules are not implementable in Nash-equilibrium refinements without a delay. As an application of our approach, we characterize delayed implementable rules in environments where only the discounting changes between states.

Suggested Citation

  • Artemov, Georgy, 2015. "Time and Nash implementation," Games and Economic Behavior, Elsevier, vol. 91(C), pages 229-236.
    • Handle: RePEc:eee:gamebe:v:91:y:2015:i:c:p:229-236
    DOI: 10.1016/j.geb.2015.03.002
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    References listed on IDEAS

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    1. Palfrey, Thomas R & Srivastava, Sanjay, 1991. "Nash Implementation Using Undominated Strategies," Econometrica, Econometric Society, vol. 59(2), pages 479-501, March.
    2. Olivier Bochet, 2007. "Nash Implementation with Lottery Mechanisms," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 28(1), pages 111-125, January.
    3. Matsushima, Hitoshi, 1988. "A new approach to the implementation problem," Journal of Economic Theory, Elsevier, vol. 45(1), pages 128-144, June.
    4. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 23-38.
    5. Georgy Artemov, 2006. "Imminent Nash Implementation as a Solution to King Solomon's Dilemma," Economics Bulletin, AccessEcon, vol. 4(14), pages 1-8.
    6. George Loewenstein & Drazen Prelec, 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 573-597.
    7. Kunimoto, Takashi & Serrano, Roberto, 2011. "A new necessary condition for implementation in iteratively undominated strategies," Journal of Economic Theory, Elsevier, vol. 146(6), pages 2583-2595.
    8. M. Sanver, 2006. "Nash implementing non-monotonic social choice rules by awards," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(2), pages 453-460, June.
    9. Benoît, Jean-Pierre & Ok, Efe A., 2008. "Nash implementation without no-veto power," Games and Economic Behavior, Elsevier, vol. 64(1), pages 51-67, September.
    10. repec:ebl:ecbull:v:4:y:2006:i:14:p:1-8 is not listed on IDEAS
    11. Abreu, Dilip & Sen, Arunava, 1991. "Virtual Implementation in Nash Equilibrium," Econometrica, Econometric Society, vol. 59(4), pages 997-1021, July.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Artemov, Georgy, 2020. "Integer game with delay," Economics Letters, Elsevier, vol. 188(C).
    2. Jain, Ritesh, 2021. "Rationalizable implementation of social choice correspondences," Games and Economic Behavior, Elsevier, vol. 127(C), pages 47-66.
    3. Jianxin Yi, 2021. "Nash implementation via mechanisms that allow for abstentions," Theory and Decision, Springer, vol. 91(2), pages 279-288, September.
    4. Korpela Ville, 2016. "Social Choice Theory: A Neglected Path to Possibility," Discussion Papers 110, Aboa Centre for Economics.

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    More about this item

    Keywords

    Implementation; Delay; Time; Social choice rules; Nash equilibrium;
    All these keywords.

    JEL classification:

    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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