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The literature on public goods has shown that efficient outcomes are impossible if participation constraints have to be respected. This paper addresses the question whether they should be imposed. It asks under what conditions efficiency considerations justify that individuals are forced to pay...
Persistent link: https://www.econbiz.de/10003908910
also makes participation constraints desirable. -- public goods ; mechanism design ; incomplete contracts ; regulations …
Persistent link: https://www.econbiz.de/10003850517
also makes participation constraints desirable. -- Public goods ; Mechanism Design ; Incomplete Contracts ; Regulation …
Persistent link: https://www.econbiz.de/10003862350
benevolent mechanism designer, participation constraints are never desirable. -- Mechanism Design ; Incomplete Contracts ; Public …
Persistent link: https://www.econbiz.de/10003923885
also makes participation constraints desirable. -- Public goods ; Mechanism Design ; Incomplete Contracts ; Regulation …
Persistent link: https://www.econbiz.de/10008824513
The paper starts with a description of major reforms of EU policy in the network industries. Based on the normative economics of regulation, it then points out generic information and transaction cost problems of regulatory policy making. An appropriate allocation of regulatory competencies may...
Persistent link: https://www.econbiz.de/10011491086
priori unknown. The analysis is based on a mechanism design approach that imposes a requirement of robustness with respect to … ; public goods provision ; revelation of preferences ; robust mechanism design …
Persistent link: https://www.econbiz.de/10003857161
cation with more than two public-good provision levels. -- Mechanism Design ; Public-good provision ; Large Economy ; Voting …
Persistent link: https://www.econbiz.de/10009488631
on a mechanism design approach that involves a requirement of coalition-proofness, as well as a requirement of robustness …, so that the mechanism must not depend on specific assumptions about individual beliefs. Our main result shows that such a … mechanism can condition only on the population shares of people with valuations above and below the per capita provision costs …
Persistent link: https://www.econbiz.de/10003923890
public goods preferences. A mechanism design approach is used to establish the following result: If policies are required to …
Persistent link: https://www.econbiz.de/10003861828