Maximal surplus from the pivotal mechanism: a closed form solution

The paper derives a closed form solution for the maximal surplus generated by the pivotal mechanism in the case of a binary public good. The formula may be used to compare the pivotal mechanism to other mechanisms. An illustration is provided to demonstrate how such a comparison may be made.

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Year of publication:	1998-09-16
Authors:	Deb, Rajat ; Seo, Tae Kun
Published in:	Review of Economic Design. - Springer. - Vol. 3.1998, 4, p. 347-357
Publisher:	Springer

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: 30 April 1997 / Accepted: 16 June 1998
Classification:	H41 - Public Goods ; C72 - Noncooperative Games ; D78 - Positive Analysis of Policy-Making and Implementation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005370613