Achieving the first best in sequencing problems

In a sequencing problem with linear time cost, Suijs (1996) proved that it is possible to achieve first best. By first best we mean that one can find mechanisms that satisfy efficiency of decision, dominant strategy incentive compatibility and budget balancedness. In this paper we show that among a more general and natural class of sequencing problems, sequencing problems with linear cost is the only class for which first best can be achieved.

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Year of publication:	2002-09-05
Authors:	Mitra, Manipushpak
Published in:	Review of Economic Design. - Springer. - Vol. 7.2002, 1, p. 75-91
Publisher:	Springer
Subject:	Sequencing problems \| dominant strategy \| incentive compatibility \| efficiency \| budget balancedness

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: 2 December 1999/Accepted: 9 May 2001
Classification:	C72 - Noncooperative Games ; C78 - Bargaining Theory; Matching Theory ; D82 - Asymmetric and Private Information
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005753072