A Gibbad-Satterthwaite Theorem for Public Good Economies
We study the properties of mechanisms for deciding upon the provision of public goods when the feasible set is exogenously given (by financial and/or technological constraints), and individuals' preferences are represented by continuous, increasing and concave utility functions, and we establish a result analog to the Gibbard-Satterthwaite Theorem: strategy-proof mechanisms are dictatorial. Further, efficient and strategy-proof mechanisms are strongly dictatorial (i.e., maximize the dictator's welfare on the entire feasible set.)
Year of publication: |
2001-01
|
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Authors: | Moreno, Diego ; Moscoso, María José |
Institutions: | Departamento de Economía, Universidad Carlos III de Madrid |
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