English, Article, Journal or magazine article edition: An Experiment on Nash Implementation Luis Corchon; Antonio Cabrales; Gary Charness; ...

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Bookmark: http://trove.nla.gov.au/version/154353
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • An Experiment on Nash Implementation
Author
  • Luis Corchon
  • Antonio Cabrales
  • Gary Charness
  • Luis Corchón
Physical Description
  • preprint
Notes
  • We perform an experimental test of a modification of the controversial canonical mechanism for Nash implementation, using 3 subjects in non-repeated groups, as well as 3 outcomes, states of nature, and integer choices. We find that this mechanism successfully implements the desired outcome a large majority of the time, providing empirical evidence for the feasibility of such implementation. In addition, the performance is further improved by imposing a fine on a dissident, so that the mechanism implements strict Nash equilibria. While our environment is stylized, our results offer hope that experiments can identify reasonable features for practical implementation mechanisms.
  • RePEc:cdl:ucsbec:19-01
  • We perform an experimental test of Maskin's canonical mechanism for Nash implementation, using 3 subjects in non-repeated groups, as well as 3 outcomes, states of nature, and integer choices. We find that this mechanism succesfully implements the desired outcome a large majority of the time and an imbedded comprehension test indicates that subjects were generally able to comprehend their decision tasks. The performance can also be improved by imposing a fine on non designated dissidents. We offer some explanations for the imperfect implementation, including risk preferences, the possibilities that agents have for collusion, and the mixed strategy equilibria of the game.
  • Implementation, experiments, mechanisms, Leex
  • RePEc:upf:upfgen:300
Language
  • English
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