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Implementation in vNM Stable Set

Author

Listed:
  • Ville Korpela

    (Turku School of Economics, University of Turku)

  • Michele Lombardi

    (University of Liverpool Management School, Liverpool, UK and Department of Economics and Statistics, University of Napoli Federico II)

  • Riccardo D. Saulle

    (Department of Economics and Management, University of Padova)

Abstract

We fully identify the class of social choice functions that are implementable in von Neumann Morgenstern (vNM) stable set (von Neumann and Morgenstern, 1944) by a rights structure. A rights structure formalizes the idea of power distribution in a society. Following Harsanyi’critique (Harsanyi, 1974), we also study implementation problems in vNM stable set that are robust to farsighted reasoning.

Suggested Citation

  • Ville Korpela & Michele Lombardi & Riccardo D. Saulle, 2022. "Implementation in vNM Stable Set," "Marco Fanno" Working Papers 0283, Dipartimento di Scienze Economiche "Marco Fanno".
    • Handle: RePEc:pad:wpaper:0283
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    Keywords

    stable set; implementation; rights structure; farsightedness;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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