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A group of rational individuals with common interest need to select one of two outcomes. The optimal decision depends on whether certain premises or pieces of evidence are established as being true, and each member receives a noisy signal of the truth value of the relevant premises. Should the...
Persistent link: https://www.econbiz.de/10011190620
We study the problem of allocating m identical items among nm agents with unit demand and private value for consuming the good. We allow payments and focus on dominant-strategy implementation. In the absence of an auctioneer who can absorb payments collected from the agents, the payments must be...
Persistent link: https://www.econbiz.de/10010785205
We propose a definition of egalitarian equivalence that extends Pazner and Schmeidlerʼs (1978) concept to environments with incomplete information. If every feasible allocation rule can be implemented by an incentive compatible mechanism (as, for instance, in the case of non-exclusive...
Persistent link: https://www.econbiz.de/10011049793