On Sharing the Benefits of Communication

We put forward a model of private goods with externalities. Agents derive benefit from communicating with each other. In order to communicate they need to have a language in common. Learning languages is costly. In this setting no individually rational and feasible Groves mechanism exists. We characterize the best-in-class feasible Groves mechanism and the best-in-class individually rational Groves mechanism.

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Year of publication:	2012-05
Authors:	Athanasiou, Efthymios ; Dey, Santanu ; Valleta, Giacomo
Institutions:	Fondazione ENI Enrico Mattei (FEEM)
Subject:	Groves Mechanisms \| Externality \| Budget Surplus or Deficit \| Pareto Undominated Mechanisms

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2012.41
Classification:	D70 - Analysis of Collective Decision-Making. General ; D62 - Externalities ; C60 - Mathematical Methods and Programming. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010555584