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A number of studies, most notably Cr?mer and McLean (1985, 1988), have shown that in Harsanyi type spaces of a fixed finite size, it is generically possible to design mechanisms that extract all the surplus from players, and as a consequence, implement any outcome as if the players’ private...
Persistent link: https://www.econbiz.de/10005585334
We propose two sequential mechanisms for efficient production of public goods. Our analysis differs from the existing literature in allowing for the presence of multiple public goods and in also being “simple.” While both mechanisms ensure efficiency, the payoffs in the first mechanism are...
Persistent link: https://www.econbiz.de/10005596302