Showing 1 - 10 of 419
This study explores mechanism design with allocation-based social preferences. Agents' social preferences and private payoffs are all subject to asymmetric information. We assume quasi-linear utility and independent types. We show how the asymmetry of information about agents' social preferences...
Persistent link: https://www.econbiz.de/10013255847
In a large economy, a first-best provison rule for a public good is robustly implementable with budget balance because no one individual alone can affect the aggregate outcome. First-best outcomes can, however, be blocked by coalitions of agents acting in concert. With a requirement of immunity...
Persistent link: https://www.econbiz.de/10011334017
For any linear transformation and two convex closed sets, we provide necessary and sufficient conditions for when the transformation of the intersection of the sets coincides with the intersection of their images. We also identify analogous conditions for non-convex sets, general...
Persistent link: https://www.econbiz.de/10011729080
We study a multi-dimensional collective decision under incomplete information. Agents have Euclidean preferences and vote by simple majority on each issue (dimension), yielding the coordinate-wise median. Judicious rotations of the orthogonal axes -- the issues that are voted upon -- lead to...
Persistent link: https://www.econbiz.de/10012022742
We study the relation between mechanism design and voting in public-good provision. If incentive mechanisms must satisfy conditions of coalition-proofness and robustness, as well as individual incentive compatibility, the participants' contributions to public-good provision can only depend on...
Persistent link: https://www.econbiz.de/10011305201
This paper considers the problem faced by a political authority that has to design a legislative mechanism that guarantees the selection of policies that are stable, efficient, and inclusive in the sense of strategically protecting minority interests. Experimental studies suggest that some of...
Persistent link: https://www.econbiz.de/10012850001
This chapter surveys the literature on strategy proofness from a historical perspective. While I discuss the connections with other works on incentives in mechanism design, the main emphasis is on social choice models.
Persistent link: https://www.econbiz.de/10014025183
The paper explores organizations designed to influence a group to choose specific alternatives from a set of possible choices. The perspective is that of an administrator that has personal objectives not shared by the group and can dictate organization but not group choice. The design works...
Persistent link: https://www.econbiz.de/10014144246
A social choice function is robustly implemented if every equilibrium on every type space achieves outcomes consistent with it. We identify a robust monotonicity condition that is necessary and (with mild extra assumptions) sufficient for robust implementation.Robust monotonicity is strictly...
Persistent link: https://www.econbiz.de/10012771621
A seller is selling multiple objects to a set of agents, who can buy at most one object. Each agent's preference over (object, payment) pairs need not be quasilinear. The seller considers the following desiderata for her mechanism, which she terms desirable: (1) strategy-proofness, (2) ex-post...
Persistent link: https://www.econbiz.de/10012854303