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Simple Sequencing Problems with Interdependent Costs

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  • Manipushpak Mitra
  • Roland Hain

    ()

Abstract

In this paper we analyze sequencing situations under incomplete information where agents have interdependent costs. We first argue why Vickrey-Clarke-Groves (or VCG) mechanism fails to implement a simple sequencing problem in dominant strategies. Given this impossibility, we try to implement simple sequencing problems in ex-post equilibrium. We show that a simple sequencing problem is implementable if and only if the mechanism is a `generalized VCG mechanism'. We then show that for implementable n agent simple sequencing problems, with polynomial cost function of order (n-2) or less, one can achieve first best implementability. Moreover, for the class of simple sequencing problems with ``sufficiently well behaved'' cost function, this is the only class of first best implementable simple sequencing problems.

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File URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonedp/bgse20_2001.pdf
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Bibliographic Info

Paper provided by University of Bonn, Germany in its series Bonn Econ Discussion Papers with number bgse20_2001.

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Length: 30
Date of creation: Jul 2001
Date of revision:
Handle: RePEc:bon:bonedp:bgse20_2001

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Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 6884
Web page: http://www.bgse.uni-bonn.de

Related research

Keywords: Simple Sequencing Problems; Ex-post Equilibrium; First Best Implementability;

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References

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  1. Jehiel, Philippe & Moldovanu, Benny, 2001. "Efficient Design with Interdependent Valuations," Econometrica, Econometric Society, vol. 69(5), pages 1237-59, September.
  2. Jeroen Suijs, 1996. "On incentive compatibility and budget balancedness in public decision making," Review of Economic Design, Springer, vol. 2(1), pages 193-209, December.
  3. Dirk Bergemann & Juuso Valimaki, 2002. "Information Acquisition and Efficient Mechanism Design," Econometrica, Econometric Society, vol. 70(3), pages 1007-1033, May.
  4. Mitra, Manipushpak, 2005. "Incomplete information and multiple machine queueing problems," European Journal of Operational Research, Elsevier, vol. 165(1), pages 251-266, August.
  5. Fieseler, Karsten & Kittsteiner, Thomas & Moldovanu, Benny, 1999. "Partnerships, Lemons and Efficient Trade," Sonderforschungsbereich 504 Publications 99-71, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
  6. Gresik, Thomas A., 1991. "Ex ante incentive efficient trading mechanisms without the private valuation restriction," Journal of Economic Theory, Elsevier, vol. 55(1), pages 41-63, October.
  7. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-31, July.
  8. repec:wop:humbsf:2000-72 is not listed on IDEAS
  9. d'ASPREMONT, Claude & GERARD-VARET, Louis-André, . "Incentives and incomplete information," CORE Discussion Papers RP -354, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Liqun Liu & Guoqiang Tian, 1999. "A characterization of the existenceof optimal dominant strategy mechanisms," Review of Economic Design, Springer, vol. 4(3), pages 205-218.
  11. Partha Dasgupta & Eric Maskin, 2000. "Efficient Auctions," The Quarterly Journal of Economics, MIT Press, vol. 115(2), pages 341-388, May.
  12. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
  13. Hurwicz, Leonid & Walker, Mark, 1990. "On the Generic Nonoptimality of Dominant-Strategy Allocation Mechanisms: A General Theorem That Includes Pure Exchange Economies," Econometrica, Econometric Society, vol. 58(3), pages 683-704, May.
  14. Manipushpak Mitra, 2000. "Achieving the First Best in Sequencing Problems," Bonn Econ Discussion Papers bgse11_2001, University of Bonn, Germany.
  15. Tian, Guoqiang, 1996. "On the existence of optimal truth-dominant mechanisms," Economics Letters, Elsevier, vol. 53(1), pages 17-24, October.
  16. Motty Perry & Philip J. Reny, 2002. "An Efficient Auction," Econometrica, Econometric Society, vol. 70(3), pages 1199-1212, May.
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Citations

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Cited by:
  1. Philippe Jehiel & Benny Moldovanu, 2006. "Allocative and Informational Externalities in Auctions and Related Mechanisms," Levine's Bibliography 122247000000001129, UCLA Department of Economics.
  2. Kazuhiko Hashimoto & Hiroki Saitoh, 2012. "Strategy-proof and anonymous rule in queueing problems: a relationship between equity and efficiency," Social Choice and Welfare, Springer, vol. 38(3), pages 473-480, March.
  3. Herbert Hamers & Flip Klijn & Marco Slikker, 2013. "Price of Anarchy in Sequencing Situations and the Impossibility to Coordinate," Working Papers 709, Barcelona Graduate School of Economics.
  4. Alex Gershkov & Paul Schweinzer, 2006. "When Queuening is Better than Push and Shove," Bonn Econ Discussion Papers bgse10_2006, University of Bonn, Germany.
  5. Kazuhiko Hashimoto & Hiroki Saitoh, 2008. "Strategy-Proof and Anonymous Rule in Queueing Problems: A Relationship between Equity and Efficiency," Discussion Papers in Economics and Business 08-17, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  6. Thomas Kittsteiner & Benny Moldovanu, 2005. "Priority Auctions and Queue Disciplines That Depend on Processing Time," Management Science, INFORMS, vol. 51(2), pages 236-248, February.
  7. Moulin, Hervé, 2008. "Proportional scheduling, split-proofness, and merge-proofness," Games and Economic Behavior, Elsevier, vol. 63(2), pages 567-587, July.
  8. Moulin, Herve, 2004. "On Scheduling Fees to Prevent Merging, Splitting and Transferring of Jobs," Working Papers 2004-04, Rice University, Department of Economics.
  9. Moulin, Herve, 2005. "Split-Proof Probabilistic Scheduling," Working Papers 2004-06, Rice University, Department of Economics.

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