Traditional sufficient conditions for Nash implementation may fail on Internet

Haoyang Wu ()

MPRA Paper from University Library of Munich, Germany

Abstract: The Maskin's theorem is a fundamental work in the theory of mechanism design. In this paper, we propose that if agents report messages to the designer through channels (\emph{e.g.}, Internet), agents can construct a self-enforcing agreement such that any Pareto-inefficient social choice rule satisfying monotonicity and no-veto will not be Nash implementable when an additional condition is satisfied. The key points are: 1) The agreement is unobservable to the designer, and the designer cannot prevent the agents from constructing such agreement; 2) The agents act non-cooperatively, and the Maskin mechanism remain unchanged from the designer's perspective.

Keywords: Mechanism design; Nash implementation; Social choice (search for similar items in EconPapers)
JEL-codes: C70 (search for similar items in EconPapers)
Date: 2012-06-06
New Economics Papers: this item is included in nep-gth
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