The tax rule suggested by Groves and Ledyard is certainly an ingenious one, although there is no indication as to how one might fall upon that specific scheme. If offers Pareto optimal allocations, and in particular, budget balance,if each individual behaves competitively and faces the...

In voting theory, monotonicity is the axiom that an improvement in the ranking of a candidate by voters cannot cause a candidate who would otherwise win to lose. The participation axiom states that the sincere report of a voter’s preferences cannot cause an outcome that the voter regards as...

The excess burden of taxes can be reduced by shifting taxes from labor and capital onto land and by replacing progressive taxes with proportional taxes. This article uses a dynamic general equilibrium model to develop estimates of the magnitudes of reduction in excess burden that can be achieved...

Monotonicity failure is widely considered a severe pathology in a voting method, and some authors regard a voting method that suffers from this pathology to be totally unacceptable. Of the various voting methods discussed prominently in the literature, five methods are subject to monotonicity...

A strong Condorcet winner (SCW) is an alternative, x, that a majority of voters rank higher than z, for every other alternative, z. A weak Condorcet winner (WCW) is an alternative, y, that no majority of voters rank below any other alternative, z, but is not a SCW. There has been some confusion...