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We study dominant strategy implementation especially in economic environments. We first showthat in general environments, strategy-proofness and quasi-strong-non-bossiness together are necessary and sufficient for dominant strategy implementation via the associated direct revelationmechanism. We...
Persistent link: https://www.econbiz.de/10003371461
This paper studies resource-allocation mechanisms by using a reduced-form notion of mechanism. We formulate a mechanism by specifying the state space of the mechanism, the set of outcomes that agents can induce in a given state, and the set of admissible outcomes in each state. This notion of...
Persistent link: https://www.econbiz.de/10014104480
This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...
Persistent link: https://www.econbiz.de/10014023678
In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. When the number of...
Persistent link: https://www.econbiz.de/10011405139
We provide nonemptiness results of approximate interim cores with endogenous communication in large quasilinear economies, where every agent's informational size is small. We offer results for both replica and more general sequences of economies.
Persistent link: https://www.econbiz.de/10011890497
Persistent link: https://www.econbiz.de/10001883297
Car owners are liable for property damage inflicted on other motorists. In most countries such liability must be insured by law. That law may favor expensive or heavy vehicles, prone to suffer or inflict large losses. This paper explores links between liability rules and vehicle choice. It...
Persistent link: https://www.econbiz.de/10003965107
We apply farsighted stable set to two versions of Hotelling's location games: one with linear market and another with circular market. It is shown that there always exists a farsighted stable set in both games. In particular, the set of all location profiles that yields equal payoff across all...
Persistent link: https://www.econbiz.de/10003894735
This paper reinterprets the γ-core (Chander and Tulkens (1995, 1997)) and justifies it as well as its prediction that the efficient coalition structure is stable in terms of the coalition formation theory. It is assumed that coalitions can freely merge or break apart, are farsighted (that is,...
Persistent link: https://www.econbiz.de/10011592935
We study collective choice via an endogenous agenda setting process. At each stage, a status quo is implemented unless it is replaced by a majority (winning coalition) with a new status quo outcome. The process continues until the prevailing status quo is no longer challenged. We impose a...
Persistent link: https://www.econbiz.de/10011684929