Implementation in largest consistent set via rights structures

Ville Korpela, Michele Lombardi and Hannu Vartiainen

Games and Economic Behavior, 2021, vol. 128, issue C, 202-212

Abstract: The designer's exercise consists of designing a rights structure that formalizes the idea of power distribution in society. A solution is implementable in largest consistent set by a rights structure if there exists a rights structure such that for each preference profile, the largest consistent set of the game played by agents coincides with the set of outcomes that the solution would select for it. In a setting with transfers, every Maskin monotonic solution is implementable. This finding implies that the class of implementable solutions in core equilibria is unaltered by farsighted reasoning.

Keywords: Implementation; Rights structures; Largest consistent set; Core; (Maskin) monotonicity (search for similar items in EconPapers)
JEL-codes: C71 C78 D71 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:128:y:2021:i:c:p:202-212

DOI: 10.1016/j.geb.2021.04.007

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