Multiple Equilibria as a Difficulty in Understanding Correlated Distributions

Indrajit Ray and Robedrto Serrano Anirban Kar
Authors registered in the RePEc Author Service: Anirban Kar (), Roberto Serrano () and Indrajit Ray ()

Discussion Papers from Department of Economics, University of Birmingham

Abstract: We view achieving a particular correlated equilibrium distribution for a normal form game as an implementation problem. We show, using a parametric version of the two-person Chicken game and a wide class of correlated equilibrium distributions, that a social choice function that chooses a particular correlated equilibrium distribution from this class does not satisfy the Maskin monotonicity condition and therefore can not be fully implemented in Nash equilibrium.

Keywords: Correlated Equilibrium Distribution; Implementation; Monotonicity (search for similar items in EconPapers)
JEL-codes: C72 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gth
Date: 2005-11
View list of references

Downloads: (external link)
ftp://ftp.bham.ac.uk/pub/RePEc/pdf/karrayserrano.pdf

Related works:
Working Paper: MULTIPLE EQUILIBRIA AS A DIFFICULTY IN UNDERSTANDING CORRELATED DISTRIBUTIONS (2005)
Working Paper: Multiple Equilibria as a Difficulty in Understanding Correlated Distributions (2005)
Working Paper: Multiple equilibria as a difficulty in understanding correlated distributions (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:bir:birmec:05-18

Access Statistics for this paper

More papers in Discussion Papers from Department of Economics, University of Birmingham
Contact information at EDIRC.
Series data maintained by Colin Rowat ().