Strategically Robust Implementation

Michele Lombardi, Ritesh Jain and Antonio Penta

No 1461, Working Papers from Barcelona School of Economics

Abstract: We put forward a notion of implementation for Social Choice Functions (SCF) that is robust with respect to the solution concept used to model agents' strategic interaction. Formally, we define implementation in Interim Correlated Rationalizability and its Refinements (ICRR implementation) as implementation in Interim Correlated Rationalizability (ICR), with the extra requirement that it be achieved by a mechanism in which all selections from ICR have the best-reply property. We provide a tight characterization in terms of a novel notion of monotonicity, Iterative Interim Monotonicity (IIM). Our condition relates the possibility of ICRR-implementation with a specific way in which the SCF is constrained by agents' preference reversals. We provide several alternative formulations of IIM, that clarify both its connection with various parts of the literature (such as Oury and Tercieux (2012)'s Interim Rationalizable Monotonicity, and others), and the source of IIM's ability to overcome several limitations of the previous conditions in the literature.

Keywords: robustness; full implementation; Bayes Nash equilibrium; interim correlated rationalizability (search for similar items in EconPapers)
JEL-codes: C79 D82 (search for similar items in EconPapers)
Date: 2024-09
New Economics Papers: this item is included in nep-des and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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