Rationalizable Implementation of Correspondences∗
نویسندگان
چکیده
A new condition, which we call uniform monotonicity, is shown to be necessary and almost sufficient for rationalizable implementation of correspondences. Uniform monotonicity is much weaker than Maskin monotonicity and reduces to it in the case of functions. Maskin monotonicity, the key condition for Nash implementation, had also been shown to be necessary for rationalizable implementation of social choice functions. Our conclusion is that the conditions for rationalizable implementation are not only starkly different from, but also much weaker than those for Nash implementation, when we consider social choice correspondences. JEL Classification: C72, D78, D82.
منابع مشابه
Every choice correspondence is backwards-induction rationalizable
We extend the result from Bossert and Sprumont (2013) that every single-valued choice function is backwards-induction rationalizable via strict preferences to the case of choice correspondences via weak preferences. JEL Classification Numbers: C72; D70
متن کاملRobust Implementation in Weakly Rationalizable Strategies
Weakly rationalizable implementation represents a generalization of robust implementation to dynamic mechanisms. It is so conservative that virtual implementation in weakly rationalizable strategies is characterized by the same conditions as robust virtual implementation by static mechanisms. We show that despite that, (exact) weakly rationalizable implementation is more permissive than (exact)...
متن کاملRationalizable implementation
We consider the implementation of social choice functions under complete information in rationalizable strategies. A strict (and thus stronger) version of the monotonicity condition introduced by Maskin (1999) is necessary under the solution concept of rationalizability. Assuming the social choice function is responsive (i.e., it never selects the same outcome in two distinct states), we show t...
متن کاملGeneric Uniqueness of Rationalizable Actions
For a finite set of actions and a rich set of fundamentals, consider the interim rationalizable actions on the universal type space, endowed with the usual product topology. (1) Generically, there exists a unique rationalizable action profile. (2) Every model can be approximately embedded in a dominance-solvable model. (3) For any given rationalizable strategy of any finite model, there exists ...
متن کاملRobust Rationalizability under Almost Common Certainty of Payoffs
An action is robustly rationalizable if it is rationalizable for every type who has almost common certainty of payoffs. We illustrate by means of an example that an action may not be robustly rationalizable even if it is weakly dominant, and argue that robust rationalizability is a very stringent refinement of rationalizability. Nonetheless, we show that every strictly rationalizable action is ...
متن کامل