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This paper is concerned with the realism of mechanisms that implement social choice functions in the traditional sense. Will agents actually play the equilibrium assumed by the analysis? As an example, we study the convergence and stability properties of Sj\"ostr\"om's (1994) mechanism, on the...
Persistent link: https://www.econbiz.de/10005772028
We perform an experimental test of Maskin's canonical mechanism for Nash implementation, using 3 subjects in non … some explanations for the imperfect implementation, including risk preferences, the possibilities that agents have for …
Persistent link: https://www.econbiz.de/10005772110
This paper studies the equilibrating process of several implementation mechanisms using naive adaptive dynamics. We … show that the dynamics converge and are stable, for the canonical mechanism of implementation in Nash equilibrium. In this … implementation with refined equilibrium concepts have claimed that the mechanisms they propose are ``simple'' and implement …
Persistent link: https://www.econbiz.de/10005772289
implementation. This is done through a reinterpretation of the characteristic function that avoids feasibility problems, thereby … cooperative solution that is Maskin monotonic. Thus, implementation of most cooperative solutions must rely on refinements of the …
Persistent link: https://www.econbiz.de/10005772396
equivalent (implying that so are the theory of implementation and the Nash program). This facilitates the understanding of the … ``real implementation'' is examined. …
Persistent link: https://www.econbiz.de/10005827443