A new necessary condition for Nash implementation

Article Abstract:

The Bk-monotonicity is a stricter condition than Maskin monotonicity, however, it is significant for Nash implementation. The Bk-monotonicity can be utilized to demonstrate that several social choice correspondences that satisfy Maskin monotonicity cannot be Nash implemented. The method employs k as a natural number that indexes a specific condition and where the condition only becomes more restrictive as k increases.

Monotonic functions

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Lagrange multipliers in incentive-constrained problems

Article Abstract:

Lagrange multipliers can be employed in an incentive-constrained problem, which is a maximization problem in an infinite horizon set-up, with constraints that the continuation value from any period has to be bigger than an outside alternative value. The technique is best exemplified in a problem of optimal taxation, in which the sequence is not time-consistent.

Numerical analysis, Lagrange equations

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