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I study the welfare optimal allocation of a number of identical and indivisible objects to a set of heterogeneous risk-neutral agents under the hypothesis that money is not available. Agents have independent private values, which represent the maximum time that they are willing to wait in line...
Persistent link: https://www.econbiz.de/10003921735
Both market (e.g. auctions) and non-market mechanisms (e.g. lotteries and priority lists) are used to allocate a large amount of scarce public resources that produce large private benefits and small consumption externalities. I study a model in which the use of both market and non-market...
Persistent link: https://www.econbiz.de/10003921736
Persistent link: https://www.econbiz.de/10010243676
I study the welfare optimal allocation of a number of identical and indivisible objects to a set of heterogeneous risk-neutral agents under the hypothesis that money is not available. Agents have independent private values, which represent the maximum time that they are willing to wait in line...
Persistent link: https://www.econbiz.de/10013158838
Persistent link: https://www.econbiz.de/10003327906
Persistent link: https://www.econbiz.de/10014368572
Persistent link: https://www.econbiz.de/10009267492
Persistent link: https://www.econbiz.de/10009505103
Persistent link: https://www.econbiz.de/10003833053
This paper studies revenue-maximizing allocation mechanisms for multiple goods where the buyer's utility can depend non-linearly in his type. We point out that despite strictly increasing virtual utilities, the allocation rule obtained via pointwise optimization may fail to be increasing and...
Persistent link: https://www.econbiz.de/10012724593