Myopic Versus Intertemporal Manipulation in Decentralized Planning Procedures

Guy Laroque and Jean Rochet

The Review of Economic Studies, 1983, vol. 50, issue 1, 187-195

Abstract: Manipulation is studied in abstract planning procedures in exchange economies with private goods and a generalization of the results of Champsaur-Laroque (1980) is obtained. When the Nash equilibrium corresponding to myopic manipulation is unique, the outcome of consistent intertemporal manipulation on a time interval [0, T] is characterized. It is shown that when T goes to infinity, the resulting allocation tends towards a competitive equilibrium. For T equal to infinity, there exists a Nash equilibrium only when the initial allocation is Pareto-optimal.

Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:50:y:1983:i:1:p:187-195.

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