VCG mechanisms and efficient ex ante investments with externalities

For mechanism design with independent values, we identify a subclass of Vickrey--Clarke--Groves (VCG) mechanisms that induce efficient ex ante investments even with externalities. The Vickrey second price auction does not belong to this class.

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Year of publication:	2006-02-08
Authors:	Kraehmer, Daniel ; Strausz, Roland
Subject:	externalities \| ex ante investments \| efficient mechanisms \| mechanism design \| second price auction

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Extent:	application/pdf
Series:	Departmental Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005417523