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Impossibility of Nash implementation in two-person economies

Author

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  • Shinsuke Nakamura

    (Faculty of Economics, Keio University, 2-15-45 Mita Minato-ku, Tokyo 108, Japan)

Abstract

In this note, we prove two impossibility results of Nash implementation in two-person economies. First, we will show the non-existence of continuous and balanced mechanisms which implement the Walrasian correspondence. Second, by adding a convexity assumption of mechanisms, we present the impossibility of continuous implementation of Pareto optimal and individually rational allocations in balanced way.

Suggested Citation

  • Shinsuke Nakamura, 1998. "Impossibility of Nash implementation in two-person economies," Review of Economic Design, Springer;Society for Economic Design, vol. 3(2), pages 159-165.
    • Handle: RePEc:spr:reecde:v:3:y:1998:i:2:p:159-165
    Note: Received: 16 April 1996 / Accepted: 25 April 1997
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    Cited by:

    1. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 655-708.

    More about this item

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D60 - Microeconomics - - Welfare Economics - - - General

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