CFDP 1697

Rationalizable Implementation

Author(s): 

Publication Date: May 2009

Pages: 21

Abstract: 

This note studies (full) implementation of social choice functions under complete information in (correlated) rationalizable strategies. The monotonicity condition shown by Maskin (1999) to be necessary for Nash implementation is also necessary under the more stringent solution concept. We show that it is also sufficient under a mild “no worst alternative” condition. In particular, no economic condition is required.

Keywords: 

Implementation, Complete information, Rationalizability, Maskin monotonicity

JEL Classification Codes: C79, D82