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Voluntary Implementation

Jackson, Matthew O. and Palfrey, Thomas R. (2001) Voluntary Implementation. Journal of Economic Theory, 98 (1). pp. 1-25. ISSN 0022-0531. https://resolver.caltech.edu/CaltechAUTHORS:20160307-163541677

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Abstract

We examine Nash implementation when individuals cannot be forced to accept the outcome of a mechanism. Two approaches are studied. The first approach is static where a state-contingent participation constraint defines an implicit mapping from rejected outcomes into outcomes that are individually rational. We call this voluntary implementation and show that the constrained Walrasian correspondence is not voluntarily implementable. The second approach is dynamic where a mechanism is replayed if the outcome at any stage is vetoed by one of the agents. We call this stationary implementation and show that if players discount the future in any way, then the constrained Walrasian correspondence is stationarily implementable.


Item Type:Article
Related URLs:
URLURL TypeDescription
http://dx.doi.org/10.1006/jeth.2000.2752DOIArticle
http://www.sciencedirect.com/science/article/pii/S0022053100927522PublisherArticle
http://resolver.caltech.edu/CaltechAUTHORS:20160307-135446668Related ItemCorrigendum article
http://dx.doi.org/10.1016/S0022-0531(02)00032-7DOICorrigendum article
ORCID:
AuthorORCID
Jackson, Matthew O.0000-0001-9846-4249
Palfrey, Thomas R.0000-0003-0769-8109
Additional Information:Copyright 2001 by Academic Press. Received December 4, 1998; final version received September 6, 2000. The authors thank an associate editor, an anonymous referee, and Bhaskar Dutta for helpful comments and suggestions.
Errata:Corrigendum published May 2003 to correct error (and several typographical errors) in previous proof of Theorem 2.
Subject Keywords:implementation; individual rationality; voluntary implementation; stationary implementation
Issue or Number:1
Record Number:CaltechAUTHORS:20160307-163541677
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20160307-163541677
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:65161
Collection:CaltechAUTHORS
Deposited By: Susan Vite
Deposited On:25 Mar 2016 22:45
Last Modified:03 Oct 2019 09:44

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