dc.contributor.author |
Cabrales, Antonio |
dc.contributor.other |
Universitat Pompeu Fabra. Departament d'Economia i Empresa |
dc.date.accessioned |
2017-07-26T10:50:26Z |
dc.date.available |
2017-07-26T10:50:26Z |
dc.date.issued |
1996-07-01 |
dc.identifier |
https://econ-papers.upf.edu/ca/paper.php?id=179 |
dc.identifier.citation |
Journal of Economic Theory, 86, (1999), pp. 159-184 |
dc.identifier.uri |
http://hdl.handle.net/10230/1157 |
dc.description.abstract |
This paper studies the equilibrating process of several implementation
mechanisms using naive adaptive dynamics. We show that the dynamics converge
and are stable, for the canonical mechanism of implementation in Nash equilibrium.
In this way we cast some doubt on the criticism of ``complexity'' commonly
used against this mechanism. For mechanisms that use more refined equilibrium concepts,
the dynamics converge but are not stable. Some papers in the literature
on implementation with refined equilibrium concepts have claimed that the
mechanisms they propose are ``simple'' and implement ``everything'' (in
contrast with the canonical mechanism). The fact that some of these ``simple''
mechanisms have unstable equilibria suggests that these statements should
be interpreted with some caution. |
dc.format.mimetype |
application/pdf |
dc.language.iso |
eng |
dc.relation.ispartofseries |
Economics and Business Working Papers Series; 179 |
dc.rights |
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons |
dc.rights.uri |
http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
dc.title |
Adaptive dynamics and the implementation problem with complete information |
dc.type |
info:eu-repo/semantics/workingPaper |
dc.date.modified |
2017-07-23T02:02:41Z |
dc.subject.keyword |
implementation |
dc.subject.keyword |
bounded rationality |
dc.subject.keyword |
evolutionary dynamics |
dc.subject.keyword |
mechanisms |
dc.subject.keyword |
Microeconomics |
dc.rights.accessRights |
info:eu-repo/semantics/openAccess |