We analyze bankruptcy problems with an indivisible object, where real owners and outside traders want to allocate an indivisible object among them with monetary compensation. The object might be a company that has gone bankrupt or a house left by a parent who has died, and so on. We show that...

We consider the allocation problem of assigning heterogenous objects to a group of agents and determining how much they should pay. Each agent receives at most one object. Agents have non-quasi-linear preferences over bundles, each consisting of an object and a payment. Especially, we focus on...

We consider a problem of allocating multiple identical objects to a group of agents and collecting payments. Each agent may receive several objects and has quasi-linear preferences with a submodular valuation function. It is known thatWalrasian mechanisms are manipulable. We investigate the...

We conduct laboratory experiments for the Vickrey auction with and without an announcement on strategy-proofness to subjects. Although the rate of truth-telling among the subjects stays at 20% without the announcement, it increases to 47% with the announcement. Moreover, by conducting...

We consider the problem of probabilistically allocating a single indivisible good among agents when monetary transfers are allowed. We construct a new strategy-proof rule, called the second price trading rule, and show that it is second best efficient. Furthermore, we give the second price...

Consider the problem of allocating objects to agents and how much they should pay. Each agent has a preference relation over pairs of a set of objects and a payment. Preferences are not necessarily quasi-linear. Non-quasi-linear preferences describe environments where payments influence agents'...

We study strategy-proof rules for choosing between two alternatives. We consider the full preference domain which allows for indifference. In this framework, for strategy proof rules, ontoness does not imply efficiency. We weaken the requirement of efficiency to ontoness and characterizes the...

We consider the problem of fairly reallocating the individual endowments of a perfectly divisible good among agents with single-peaked preferences. We provide a new concept of fairness, called position-wise envy-freeness, that is compatible with individual rationality. This new concept requires...

We study strategy-proof probabilistic mechanisms in a binary public decision model when monetary transfers are allowed. We consider not only the pivotal mechanism, the majority voting mechanism, the random serial dictatorship mechanism, and the unanimity mechanism, but also the random chair...

We consider the problem of allocating infinitely divisible commodities among a group of agents. Especially, we focus on the case where there are several commodities to be allocated, and agents have continuous, strictly convex, and separable preferences. In this paper, we establish that the...