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We use a simple graphical approach to represent Social Welfare Functions that satisfy Independence of Irrelevant Alternatives and Anonymity. This approach allows us to provide simple and illustrative proofs of May's Theorem, of variants of classic impossibility results, and of a recent result on...
Persistent link: https://www.econbiz.de/10005762512
We use a simple graphical approach to represent Social Welfare Functions that satisfy Independence of Irrelevant Alternatives and Anonymity. This approach allows us to provide simple and illustrative proofs of May's Theorem, of variants of classic impossibility results, and of a recent result on...
Persistent link: https://www.econbiz.de/10005147165
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We use a simple graphical approach to represent Social Welfare Functions that satisfy Independence of Irrelevant Alternatives and Anonymity. This approach allows us to provide simple and illustrative proofs of May's Theorem, of variants of classic impossibility results, and of a recent result on...
Persistent link: https://www.econbiz.de/10013236834
Persistent link: https://www.econbiz.de/10011011577
A buyer seeks to procure a good characterized by its price and its quality from suppliers who have private information about their cost structure (…xed cost and marginal cost of providing quality). We characterize the buyers optimal buying mechanism. We then use the optimal mechanism as a...
Persistent link: https://www.econbiz.de/10009321726