Showing 1 - 10 of 43
We examine the tradeoffs between two variants of group strategyproofness, efficiency and budget balance in queueing models. In general, group strategyproofness is incompatible with efficiency and budget balance. Weakening budget balance to feasibility, we show that the incompatibility persists...
Persistent link: https://www.econbiz.de/10005826985
We revisit the classic comparison between Bertrand and Cournot outcomes in a mixed market with private and public firms. The results are often strikingly different and opposite to the ones obtained from a similar comparison in the standard setting with all profit-maximizing firms.
Persistent link: https://www.econbiz.de/10008867048
We identify and characterize a natural and intuitive class of mechanisms called the k-pivotal mechanisms. The axioms used are efficiency, pairwise strategyproofness, equal treatment of equals and weak linearity. We also identify the subclass of these mechanisms which do not run a budget deficit...
Persistent link: https://www.econbiz.de/10008914625
We revisit the comparison between Bertrand and Cournot competition in a symmetric differentiated oligopoly where each firm maximizes a weighted average of its own profit and welfare. Under very general specifications, Bertrand competition yields higher prices and profits, and lower quantities,...
Persistent link: https://www.econbiz.de/10010813032
We investigate the implications of egalitarian equivalence (Pazner and Schmeidler in Q J Econ 92:671–687, <CitationRef CitationID="CR31">1978</CitationRef>) together with queue efficiency and strategyproofness in the context of queueing problems. We completely characterize the class of mechanisms satisfying the three requirements. Though...</citationref>
Persistent link: https://www.econbiz.de/10010993550
We characterize all anonymous VCG mechanisms by using queue efficiency, strategyproofness and equal treatment of equals. By additionally imposing independence axioms, introduced by Chun (2006a) and Maniquet (2003), we characterize the pivotal and the reward-based pivotal mechanisms in the class...
Persistent link: https://www.econbiz.de/10011117956
We address the issue of bidder ring formation in single and multi-unit Vickrey auctions. We address this issue in a bargaining game set up under the assumption that valuation of bidders is commonly known only amongst themselves. In the single unit case, we show that the equilibrium coalition...
Persistent link: https://www.econbiz.de/10011124334
We investigate the problem of reordering agents starting from an existing queue. First, we introduce four important axioms of the problem, budget balance (BB), outcome efficiency (OE), strategyproofness (SP), and individual rationality (IR). Unfortunately, it is easy to show that these four...
Persistent link: https://www.econbiz.de/10010681413
We investigate the implications of egalitarian equivalence (Pazner and Schmeidler [22]) together with queue efficiency and strategyproofness in the context of queueing problems. We completely characterize the class of mechanisms satisfying the three requirements. Though there is no mechanism in...
Persistent link: https://www.econbiz.de/10010681414
We address the issue of bidder ring formation in single and multi-unit Vickrey auctions. We address this issue in a bargaining game set up under the assumption that valuation of bidders is commonly known only amongst themselves. In the single unit case, we show that the equilibrium coalition...
Persistent link: https://www.econbiz.de/10013208712