Showing 21 - 30 of 710
Strategy-proofness, requiring that truth-telling be a dominant strategy, is a standard concept in social choice theory. However, this concept has serious drawbacks. In particular, many strategy-proof mechanisms have multiple Nash equilibria, some of which produce the wrong outcome. A possible...
Persistent link: https://www.econbiz.de/10011599388
Persistent link: https://www.econbiz.de/10000897695
Persistent link: https://www.econbiz.de/10000897742
Persistent link: https://www.econbiz.de/10003942060
Persistent link: https://www.econbiz.de/10001209888
Groves-Ledyard (1977) constructed a mechanism attaining Pareto efficient allocations in the presence of public goods. After this path-breaking paper, many mechanisms have been proposed to attain desirable allocations with public goods. Thus, economists have thought that the free-rider problem is...
Persistent link: https://www.econbiz.de/10001644321
Persistent link: https://www.econbiz.de/10001430556
Persistent link: https://www.econbiz.de/10001505491
Persistent link: https://www.econbiz.de/10000971369
Persistent link: https://www.econbiz.de/10000913241