I define a restricted version of Nash's Independence that overcomes its major criticisms and then show that a one parameter class of asymmetric Kalai-Smorodinsky solutions is characterized by Restricted Independence, Scale Invariance, Pareto Optimality and Kalai and Smorodinsky's Individual...

I define a restricted version of Nash's Independence that overcomes its major criticisms and then show that a one parameter class of asymmetric Kalai-Smorodinsky solutions is characterized by Restricted Independence, Scale Invariance, Pareto Optimality and Kalai and Smorodinsky's Individual...

It is well known that when players have private information, vis a vis the designer, and their preferences coincide it is hard to implement the socially desirable outcome. We show that with arbitrarily small fines and arbitrarily noisy inspections, the social choice correspondence can be fully...