Mechanism design in queueing problems
AbstractA well-known result in incentive theory is that for a very broad class of decision problems, there is no mechanism which achieves truth-telling in dominant strategies, efficiency and budget balancedness (or first best implementability). On the contrary, Mitra and Sen (1998), prove that linear cost queueing problems are first best implementable. This paper is an attempt at identification of cost structures for which queueing problems are first best implementable. The broad conclusion is that, this is a fairly large class. Some of these first best implementable problems can be implemented by mechanisms that satisfy individual rationality.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 17 (2001)
Issue (Month): 2 ()
Note: Received: October 19, 1999; revised version: March 13, 2000.
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:
- Manipushpak Mitra, 2000. "Mechanism Design in Queueing Problems," Econometric Society World Congress 2000 Contributed Papers 1301, Econometric Society.
- C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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