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Implementation in vNM stable sets

Author

Listed:
  • Ville Korpela
  • Michele Lombardi
  • Riccardo D. Saulle
Abstract
We fully identify the class of social choice functions that are implementable in von Neumann Morgenstern (vNM) stable sets (von Neumann and Morgenstern, 1944) by a rights structure. A rights structure formalizes the idea of power distribution in a society. Following the so-called Harsanyi’s critique (Harsanyi, 1974), we also study the implementation of social choice correspondences in strict vNM stable sets

Suggested Citation

  • Ville Korpela & Michele Lombardi & Riccardo D. Saulle, 2023. "Implementation in vNM stable sets," Working Papers 202313, University of Liverpool, Department of Economics.
    • Handle: RePEc:liv:livedp:202313
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    File URL: https://www.liverpool.ac.uk/media/livacuk/schoolofmanagement/docs/ECON,WP,202313,full.pdf
    File Function: First version, 2023
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    Keywords

    vNM Stable Set; Implementation; Rights Structures;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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