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We show that efficient anonymous incentive compatible (dominant strategy) mechanisms for public goods eliminate externalities, i.e., each individual is unable to change the welfare of anyone else. The characterization is used to derive existence and non-existence results for models with a finite...
Persistent link: https://www.econbiz.de/10010998909
Since Becker (<CitationRef CitationID="CR3">1971</CitationRef>), a common argument against asymmetric norms that promote minority rights over those of the majority is that such policies reduce total welfare. While this may be the case, we show that there are simple environments where aggregate sum of individual utilities is actually...</citationref>
Persistent link: https://www.econbiz.de/10010998951
Persistent link: https://www.econbiz.de/10005596400