Saijo, Tatsuyoshi; Sjostrom, Tomas; Yamato, Takehiko - School of Social Science, Institute for Advanced Study - 2005
Strategy-proofness, requiring that truth-telling is 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...