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Strategy-proofness versus efficiency on restricted domains of exchange economies

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  • James Schummer

    (Department of Economics, University of Rochester, Rochester, NY 14627, USA)

Abstract

Strategy-proofness has been shown to be a strong property, particularly on large domains of preferences. We therefore examine the existence of strategy-proof and efficient solutions on restricted, 2-person domains of exchange economies. On the class of 2-person exchange economies in which agents have homothetic, strictly convex preferences we show, as Zhou (1991) did for a larger domain, that such a solution is necessarily dictatorial. As this proof requires preferences exhibiting high degrees of complementarity, our search continues to a class of linear preferences. Even on this "small" domain, the same negative result holds. These two results are extended to many superdomains, including Zhou's.

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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 14 (1996)
Issue (Month): 1 ()
Pages: 47-56

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Handle: RePEc:spr:sochwe:v:14:y:1996:i:1:p:47-56

Note: Received: 9 June 1995/Accepted: 8 January 1996
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Cited by:
  1. William Thomson, 2007. "Children Crying at Birthday Parties. Why?," Economic Theory, Springer, vol. 31(3), pages 501-521, June.
  2. Pablo Amorós, 2002. "Single-peaked preferences with several commodities," Social Choice and Welfare, Springer, vol. 19(1), pages 57-67.
  3. William Thomson, 2004. "Divide-and-Permute," RCER Working Papers 510, University of Rochester - Center for Economic Research (RCER).
  4. Leroux, Jistin, 2004. "Strategy-Proofness and Efficiency Are Incompatible in Production Economies," Working Papers 2004-07, Rice University, Department of Economics.
  5. Papai, Szilvia, 2003. "Strategyproof exchange of indivisible goods," Journal of Mathematical Economics, Elsevier, vol. 39(8), pages 931-959, November.
  6. Schummer, James & Vohra, Rakesh V., 2002. "Strategy-proof Location on a Network," Journal of Economic Theory, Elsevier, vol. 104(2), pages 405-428, June.
  7. James Schummer, 1999. "Almost-dominant Strategy Implementation," Discussion Papers 1278, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Shigehiro Serizawa, 2005. "Pairwise Strategy-Proofness and Self-Enforcing Manipulation," ISER Discussion Paper 0629, Institute of Social and Economic Research, Osaka University.
  9. Goswami, Mridu Prabal & Sen, Arunava & Mitra, Manipushpak, 2014. "Strategy-proofness and Pareto-efficiency in quasi-linear exchange economies," Theoretical Economics, Econometric Society, vol. 9(2), May.
  10. William Thomson, 2006. "Children crying at birthday parties. Why? Fairness and incentives for cake division problems," RCER Working Papers 526, University of Rochester - Center for Economic Research (RCER).
  11. Shigehiro Serizawa & John A. Weymark, 2002. "Efficient Strategy-Proof Exchange and Minimum Consumption Guarantees," Vanderbilt University Department of Economics Working Papers 0216, Vanderbilt University Department of Economics, revised Aug 2002.
  12. Salvador Barberà, 2010. "Strategy-proof social choice," Working Papers 420, Barcelona Graduate School of Economics.
  13. Biung-Ghi Ju, 2003. "Strategy-Proof Risk Sharing," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200305, University of Kansas, Department of Economics, revised Apr 2003.

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