The implementability of liberalism

Abstract This note shows that under the unrestricted domain, there exists a choice liberal and Nash implementable social choice rule if and only if there are at least three players and the outcome set is at least twice as large as the player set. A social choice rule is choice liberal if and only if for every player, there exists at least one pair of outcomes such that if this player strictly prefers one over the other, the one he prefers is socially desirable and the other one is not. A social choice rule is Nash implementable if and only if there exists a mechanism such that at every preference profile, the set of Nash equilibrium outcomes coincides with the set of socially desirable ones. The proof constructs an intuitive Nash implementing mechanism.

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Publication Details

Journal
Public Choice
Published
2024-10-23
DOI
https://doi.org/10.1007/s11127-024-01213-w
Primary Topic
Auction Theory and Applications
Type
article
Field-Weighted Citation Impact
0.00

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The implementability of liberalism

Héctor Hermida‐Rivera
Public Choice
Auction Theory and Applications
article

The implementability of liberalism

Héctor Hermida‐Rivera
article en

Abstract

Abstract This note shows that under the unrestricted domain, there exists a choice liberal and Nash implementable social choice rule if and only if there are at least three players and the outcome set is at least twice as large as the player set. A social choice rule is choice liberal if and only if for every player, there exists at least one pair of outcomes such that if this player strictly prefers one over the other, the one he prefers is socially desirable and the other one is not. A social choice rule is Nash implementable if and only if there exists a mechanism such that at every preference profile, the set of Nash equilibrium outcomes coincides with the set of socially desirable ones. The proof constructs an intuitive Nash implementing mechanism.

Public ChoiceVol. 203(3-4)
Budapest University of Technology and Economics (HU)
Budapesti Műszaki és Gazdaságtudományi Egyetem
Reduced inequalities
Openalex Percentile: Top 77%
Auction Theory and Applications
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