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A characterization of the existenceof optimal dominant strategy mechanisms

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  • Liqun Liu

    ()
    (Department of Economics, Texas A&M University, College Station, TX 77843, USA)

  • Guoqiang Tian

    ()
    (Department of Economics, Texas A&M University, College Station, TX 77843, USA)

Abstract

This paper provides two theorems which characterize the domains of valuation functions for which there exist Pareto efficient and truth dominant strategy mechanisms (balanced Groves mechanisms). Theorem 1 characterizes the existence of balanced Groves mechanisms for a general class of valuation functions. Theorem 2 provides new balance-permitting domains of valuation functions by reducing the problem of solving partial differential equations to the problem of solving a polynomial function. It shows that a balanced Groves mechanism exists if and only if each valuation function in the family under consideration can be obtained by solving a polynomial function with order less than $n-1$, where n is the number of individuals.

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Bibliographic Info

Article provided by Springer in its journal Review of Economic Design.

Volume (Year): 4 (1999)
Issue (Month): 3 ()
Pages: 205-218

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Handle: RePEc:spr:reecde:v:4:y:1999:i:3:p:205-218

Note: Received: 5 January 1997 / Accepted: 25 May 1999
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Related research

Keywords: Groves mechanisms; dominant strategy implementation;

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Cited by:
  1. Manipushpak Mitra, 2001. "Incomplete Information and Multiple Machine Queueing Problems," Bonn Econ Discussion Papers bgse19_2001, University of Bonn, Germany.
  2. Manipushpak Mitra & Arunava Sen, 2010. "Efficient allocation of heterogenous commodities with balanced transfers," Social Choice and Welfare, Springer, vol. 35(1), pages 29-48, June.
  3. Kazuhiko Hashimoto & Hiroki Saitoh, 2010. "Domain expansion of the pivotal mechanism," Social Choice and Welfare, Springer, vol. 34(3), pages 455-470, March.
  4. Carmen Bevià & Luis C. Corchón, 2007. "Cooperative Production and Effciency," Working Papers 305, Barcelona Graduate School of Economics.
  5. Manipushpak Mitra & Roland Hain, 2001. "Simple Sequencing Problems with Interdependent Costs," Bonn Econ Discussion Papers bgse20_2001, University of Bonn, Germany.

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