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Matias Nunez (CREST) – “A Solution to the Two-Person Implementation Problem”

November 18, 11:00 am - 12:00 pm

CREST Internal Seminar in Microeconomics : 

Time: 11:00 am – 12:00 pm
Date: 18th Nov. 2019
Place: Room 3105.

Matias Nunez (CREST) – “A Solution to the Two-Person Implementation Problem”

Abstract:

We propose a solution to the classical problem of Hurwicz and Schmeidler [1978] and Maskin [1999] according to which, in two-person societies, no Pareto efficient rule is Nash-implementable. To this end, we consider implementation through mechanisms that are deterministic-in-equilibrium while lotteries are allowed off-equilibrium. For strict preferences over alternatives and under a very weak condition for extending preferences over lotteries, we build simple veto mechanisms that Nash implement a class of Pareto efficient social choice rules called Pareto-and-veto rules. Moreover, under mild richness conditions on the domain of preferences over lotteries, any Pareto efficient Nashimplementable rule is a Pareto-and-veto rule and hence is implementable through one of our simple veto mechanisms.

Organizer:

Morgane Guignard (CREST)

Sponsors:
CREST

Details

Date:
November 18
Time:
11:00 am - 12:00 pm
Event Category:

Venue

3105

Organizer

Morgane Guignard