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An experiment on Nash implementation
Cabrales, Antonio; Charness, Gary; Corchón, Luis
Universitat Pompeu Fabra. Departament d'Economia i Empresa
We perform an experimental test of Maskin's canonical mechanism for Nashimplementation, 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.
2005-09-15
Behavioral and Experimental Economics
implementation
experiments
mechanisms
leex
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