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Role of Honesty in Full Implementation ( Revised version of CARF-F-062(2006); The further revision was subsequently published in "Journal of Economic Theory" as a short article. )

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  • Hitoshi Matsushima

    (Faculty of Economics, University of Tokyo)

Abstract

This paper introduces a new concept of full implementation that takes into account agents? preferences for understanding how the process works. We assume that the agents have intrinsic preferences for honesty in the sense that they dislike the idea of lying when it does not influence their welfare but instead goes against the intention of the central planner. We show that the presence of such preferences functions effectively in eliminating unwanted equilibria from the practical perspective, even if the degree of the preference for honesty is small. The mechanisms designed are detail-free and involve only small fines.

Suggested Citation

  • Hitoshi Matsushima, 2007. "Role of Honesty in Full Implementation ( Revised version of CARF-F-062(2006); The further revision was subsequently published in "Journal of Economic Theory" as a short article. )," CARF F-Series CARF-F-109, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    • Handle: RePEc:cfi:fseres:cf109
    as

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    File URL: https://www.carf.e.u-tokyo.ac.jp/old/pdf/workingpaper/fseries/111.pdf
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    References listed on IDEAS

    as
    1. Matsushima Hitoshi, 1993. "Bayesian Monotonicity with Side Payments," Journal of Economic Theory, Elsevier, vol. 59(1), pages 107-121, February.
    2. Kfir Eliaz, 2002. "Fault Tolerant Implementation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 69(3), pages 589-610.
    3. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, April.
    4. Uri Gneezy, 2005. "Deception: The Role of Consequences," American Economic Review, American Economic Association, vol. 95(1), pages 384-394, March.
    5. Glazer, Jacob & Rubinstein, Ariel, 1998. "Motives and Implementation: On the Design of Mechanisms to Elicit Opinions," Journal of Economic Theory, Elsevier, vol. 79(2), pages 157-173, April.
    6. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
    7. Steffen Huck & Philippe Jehiel & Tom Rutter, 2006. "Information Processing, Learning and Analogy-based Expectation: an Experiment," Levine's Bibliography 321307000000000541, UCLA Department of Economics.
    Full references (including those not matched with items on IDEAS)

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