IDEAS home Printed from https://ideas.repec.org/a/spr/sochwe/v55y2020i2d10.1007_s00355-020-01248-0.html
   My bibliography  Save this article

Efficient and strategy-proof allocation mechanisms in many-agent economies

Author

Listed:
  • Takeshi Momi

    (Doshisha University)

Abstract

In this paper, we show that in pure exchange economies, any Pareto-efficient and strategy-proof allocation mechanism is alternately dictatorial; that is, it always allocates the total endowment to a single agent even if the receivers vary. While many studies have shown that such an allocation mechanism is dictatorial in two-agent economies, it has long remained an open question whether such a characterization can be obtained in many-agent economies.

Suggested Citation

  • Takeshi Momi, 2020. "Efficient and strategy-proof allocation mechanisms in many-agent economies," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 55(2), pages 325-367, August.
    • Handle: RePEc:spr:sochwe:v:55:y:2020:i:2:d:10.1007_s00355-020-01248-0
    DOI: 10.1007/s00355-020-01248-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s00355-020-01248-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s00355-020-01248-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Takeshi Momi, 2013. "Note on social choice allocation in exchange economies with Cobb–Douglas preferences," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(3), pages 787-792, March.
    2. Momi, Takeshi, 2017. "Efficient and strategy-proof allocation mechanisms in economies with many goods," Theoretical Economics, Econometric Society, vol. 12(3), September.
    3. Barbera, Salvador & Jackson, Matthew O, 1995. "Strategy-Proof Exchange," Econometrica, Econometric Society, vol. 63(1), pages 51-87, January.
    4. Miki Kato & Shinji Ohseto, 2002. "Toward general impossibility theorems in pure exchange economies," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(3), pages 659-664.
    5. Serizawa, Shigehiro & Weymark, John A., 2003. "Efficient strategy-proof exchange and minimum consumption guarantees," Journal of Economic Theory, Elsevier, vol. 109(2), pages 246-263, April.
    6. Momi, Takeshi, 2013. "Note on social choice allocation in exchange economies with many agents," Journal of Economic Theory, Elsevier, vol. 148(3), pages 1237-1254.
    7. Mark A. Satterthwaite & Hugo Sonnenschein, 1981. "Strategy-Proof Allocation Mechanisms at Differentiable Points," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(4), pages 587-597.
    8. Kannai, Yakar, 1970. "Continuity Properties of the Core of a Market," Econometrica, Econometric Society, vol. 38(6), pages 791-815, November.
    9. Kazuhiko Hashimoto, 2008. "Strategy-proofness versus efficiency on the Cobb-Douglas domain of exchange economies," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 31(3), pages 457-473, October.
    10. Biung-Ghi Ju, 2003. "Strategy-proofness versus efficiency in exchange economies: General domain properties and applications," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(1), pages 73-93, August.
    11. Serizawa, Shigehiro, 2002. "Inefficiency of Strategy-Proof Rules for Pure Exchange Economies," Journal of Economic Theory, Elsevier, vol. 106(2), pages 219-241, October.
    12. John Hatfield, 2009. "Strategy-proof, efficient, and nonbossy quota allocations," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 33(3), pages 505-515, September.
    13. , Prabal & , & ,, 2014. "Strategy-proofness and Pareto-efficiency in quasi-linear exchange economies," Theoretical Economics, Econometric Society, vol. 9(2), May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mridu Prabal Goswami, 2022. "Non-dictatorial public distribution rules," Review of Economic Design, Springer;Society for Economic Design, vol. 26(2), pages 165-183, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jin Li & Jingyi Xue, 2013. "Egalitarian division under Leontief Preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(3), pages 597-622, November.
    2. Momi, Takeshi, 2013. "Note on social choice allocation in exchange economies with many agents," Journal of Economic Theory, Elsevier, vol. 148(3), pages 1237-1254.
    3. Mridu Goswami, 2015. "Non fixed-price trading rules in single-crossing classical exchange economies," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(2), pages 389-422, February.
    4. Momi, Takeshi, 2017. "Efficient and strategy-proof allocation mechanisms in economies with many goods," Theoretical Economics, Econometric Society, vol. 12(3), September.
    5. Ju, Biung-Ghi, 2005. "Strategy-proof risk sharing," Games and Economic Behavior, Elsevier, vol. 50(2), pages 225-254, February.
    6. Mridu Prabal Goswami, 2014. "Equal Treatment of Equals in Classical Quasilinear Exchange Economies," Working Papers 1403, Ben-Gurion University of the Negev, Department of Economics.
    7. Mridu Goswami & Arunava Sen & Sonal Yadav, 2015. "A Hurwicz type result in a model with public good production," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(4), pages 867-887, December.
    8. Serizawa, Shigehiro & Weymark, John A., 2003. "Efficient strategy-proof exchange and minimum consumption guarantees," Journal of Economic Theory, Elsevier, vol. 109(2), pages 246-263, April.
    9. Cho, Wonki Jo, 2014. "Impossibility results for parametrized notions of efficiency and strategy-proofness in exchange economies," Games and Economic Behavior, Elsevier, vol. 86(C), pages 26-39.
    10. Ryan Tierney, 2016. "On the manipulability of efficient exchange rules," ISER Discussion Paper 0987, Institute of Social and Economic Research, Osaka University.
    11. Erlanson, Albin & Szwagrzak, Karol, 2013. "Strategy-Proof Package Assignment," Working Papers 2013:43, Lund University, Department of Economics.
    12. Shigehiro Serizawa, 2006. "Pairwise Strategy-Proofness and Self-Enforcing Manipulation," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 26(2), pages 305-331, April.
    13. BOSSERT, Walter & WEYMARK, J.A., 2006. "Social Choice: Recent Developments," Cahiers de recherche 01-2006, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    14. , Prabal & , & ,, 2014. "Strategy-proofness and Pareto-efficiency in quasi-linear exchange economies," Theoretical Economics, Econometric Society, vol. 9(2), May.
    15. Ando, Kazutoshi & Kato, Miki & Ohseto, Shinji, 2008. "Strategy-proof and symmetric allocation of an indivisible good," Mathematical Social Sciences, Elsevier, vol. 55(1), pages 14-23, January.
    16. Shuhei Morimoto & Shigehiro Serizawa & Stephen Ching, 2013. "A characterization of the uniform rule with several commodities and agents," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(3), pages 871-911, March.
    17. Miki Kato & Shinji Ohseto, 2004. "Non‐Dummy Agents in Pure Exchange Economies," The Japanese Economic Review, Japanese Economic Association, vol. 55(2), pages 212-220, June.
    18. Özgür Kıbrıs & İpek Tapkı, 2014. "A mechanism design approach to allocating central government funds among regional development agencies," Review of Economic Design, Springer;Society for Economic Design, vol. 18(3), pages 163-189, September.
    19. Ju, Biung-Ghi, 2004. "Continuous selections from the Pareto correspondence and non-manipulability in exchange economies," Journal of Mathematical Economics, Elsevier, vol. 40(5), pages 573-592, August.
    20. Mizukami, Hideki & Saijo, Tatsuyoshi & Wakayama, Takuma, 2003. "Strategy-Proof Sharing," Working Papers 1170, California Institute of Technology, Division of the Humanities and Social Sciences.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sochwe:v:55:y:2020:i:2:d:10.1007_s00355-020-01248-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.