Implementation in economies with non-convex production technologies unknown to the designer
This paper deals with the problem of incentive mechanism design in non-convex production economies when production sets and preferences both are unknown to the designer. We consider Nash-implementation of loss-free, average cost, marginal cost, voluntary trading, and quantity-taking pricing equilibrium allocations in economies involving increasing returns to scale or more general types of non-convexities. The mechanisms presented in the paper are well-behaved. They are feasible, continuous, and use finite dimensional message spaces. Moreover, the mechanisms work not only for three or more agents, but also for two-agent economies.
Year of publication: |
2009
|
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Authors: | Tian, Guoqiang |
Published in: |
Games and Economic Behavior. - Elsevier, ISSN 0899-8256. - Vol. 66.2009, 1, p. 526-545
|
Publisher: |
Elsevier |
Keywords: | Incentive mechanism design Implementation Various pricing equilibrium principles Increasing returns Well-behaved mechanism design |
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