Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium

Haake C-J, Trockel W (2021) Center for Mathematical Economics Working Papers; 647.
Bielefeld: Center for Mathematical Economics.

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Abstract / Bemerkung
In this article we combine Debreu’s (1952) social system with Hurwicz’s (1994, 2008) ideas of embedding a “desired” game form into a “natural” game form that includes all feasible behavior, even if it is “illegal” according to the desired form. For the resulting socio-legal system we extend Debreu’s concepts of a social system and its social equilibria to a socio-legal system with its Debreu-Hurwicz equilibria.We build on a more general version of social equilibrium due to Shafer and Sonnenschein (1975) that also generalizes the dc-mechanism of Koray and Yildiz (2018) which relates implementation via mechanisms with implementation via rights structures as introduced by Sertel (2001). In the second part we apply and illustrate these new concepts via an application in the narrow welfarist framework of two person cooperative bargaining. There we provide in a socio-legal system based on Nash’s demand game an implementation of the Nash bargaining solution in Debreu-Hurwicz equilibrium.
Stichworte
socio-legal systems; implementation; social systems; generalized games; Nash demand game
Erscheinungsjahr
2021
Serientitel
Center for Mathematical Economics Working Papers
Band
647
Seite(n)
15
ISSN
0931-6558
Page URI
https://pub.uni-bielefeld.de/record/2953601

Zitieren

Haake C-J, Trockel W. Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium. Center for Mathematical Economics Working Papers. Vol 647. Bielefeld: Center for Mathematical Economics; 2021.
Haake, C. - J., & Trockel, W. (2021). Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium (Center for Mathematical Economics Working Papers, 647). Bielefeld: Center for Mathematical Economics.
Haake, C. - J., and Trockel, W. (2021). Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium. Center for Mathematical Economics Working Papers, 647, Bielefeld: Center for Mathematical Economics.
Haake, C.-J., & Trockel, W., 2021. Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium, Center for Mathematical Economics Working Papers, no.647, Bielefeld: Center for Mathematical Economics.
C.-J. Haake and W. Trockel, Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium, Center for Mathematical Economics Working Papers, vol. 647, Bielefeld: Center for Mathematical Economics, 2021.
Haake, C.-J., Trockel, W.: Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium. Center for Mathematical Economics Working Papers, 647. Center for Mathematical Economics, Bielefeld (2021).
Haake, Claus-Jochen, and Trockel, Walter. Socio-legal Systems and Implementation of the Nash Solution in Debreu-Hurwicz Equilibrium. Bielefeld: Center for Mathematical Economics, 2021. Center for Mathematical Economics Working Papers. 647.
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2021-04-06T12:07:40Z
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