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Strategy-proof mechanisms with monotonic preferences: The case of pure public goods economies

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  • Moreno, Diego

Abstract

This paper explores a typical public finance problem where there are m public goods (education, transportation, police, etc.) provided in limited amounts due to budget constraints, and where individual's preferences are not known. It is shown that all institutions (i.e., decision mechanisms) available to decide the allocation of goods have very unattractive properties: either the decision mechanisms are not compatible with individual's incentives, or they are dictatorial (i.e, they are based on a single individual's preferences).

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  • Moreno, Diego, 1994. "Strategy-proof mechanisms with monotonic preferences: The case of pure public goods economies," UC3M Working papers. Economics 2919, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:2919
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    1. H. Moulin, 1980. "On strategy-proofness and single peakedness," Public Choice, Springer, vol. 35(4), pages 437-455, January.
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    3. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
    4. Lin Zhou, 1991. "Impossibility of Strategy-Proof Mechanisms in Economies with Pure Public Goods," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(1), pages 107-119.
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