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A group of agents must decide whether or not to undertake a project. A simple mechanism is presented which implements the social choice function when the cost-sharing rule fulfills only two properties: budget balance and payment bounds.
Persistent link: https://www.econbiz.de/10008551311
This paper presents a simple twofold mechanism that attains a complete implementation of the efficient allocation of pollution. The first component is adopted from Duggan and Roberts [Duggan, J., Roberts, J., 2002. Implementing the efficient allocation of pollution. American Economic Review 92,...
Persistent link: https://www.econbiz.de/10005159293
A simple mechanism is presented that allocates an indivisible object between two agents for almost any possible compensation rule. Furthermore, the equilibrium strategy guarantees a level of utility not less than -[epsilon], where [epsilon] can be arbitrarily small.
Persistent link: https://www.econbiz.de/10009146149