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Inefficiency of Strategy-Proof Allocation Mechanisms in Pure Exchange Economies

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Author Info
Lin Zhou (Cowles Foundation, Yale University)

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Abstract

In this paper I prove that in the standard model of 2 times n (n >= 2) pure exchange economies there is no allocation mechanism that is efficient, non-inversely-dictatorial, and strategy-proof. This strengthens two previous results on this subject by Hurwicz and by Dasgupta, Hammond, and Maskin.

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Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 954.

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Length: 11 pages
Date of creation: Sep 1990
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Publication status: Published in Social Choice and Welfare (1991), 8: 247-254
Handle: RePEc:cwl:cwldpp:954

Note: CFP 793.
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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  1. Satterthwaite, Mark A & Sonnenschein, Hugo, 1981. "Strategy-Proof Allocation Mechanisms at Differentiable Points," Review of Economic Studies, Blackwell Publishing, vol. 48(4), pages 587-97, October. [Downloadable!] (restricted)
  2. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July. [Downloadable!] (restricted)
  3. Barbera, S. & Peleg, B., 1988. "Strategy-Proof Voting Schemes With Continuous Preferences," UFAE and IAE Working Papers 91.88, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  4. 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. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. 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. [Downloadable!]
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  2. Sasaki, Hiroo, 2003. "Limitation of Efficiency: Strategy-Proofness and Single-Peaked Preferences with Many Commodities," Working Papers 2003-01, Rice University, Department of Economics. [Downloadable!]
  3. BOSSERT, Walter & WEYMARK, J.A., 2006. "Social Choice: Recent Developments," Cahiers de recherche 2006-01, Universite de Montreal, Departement de sciences economiques. [Downloadable!]
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  4. Hideki Mizukami & Tatsuyoshi Saijo & Takuma Wakayama, 2003. "Strategy-proof Sharing," Discussion papers 03017, Research Institute of Economy, Trade and Industry (RIETI). [Downloadable!]
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  5. James Schummer, 1999. "Almost-dominant Strategy Implementation," Discussion Papers 1278, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  6. William Thomson, 2004. "Divide-and-Permute," RCER Working Papers 510, University of Rochester - Center for Economic Research (RCER). [Downloadable!]
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  7. Pablo Amorós, 1998. "- Single-Peaked Preferences With Several Commodities," Working Papers. Serie AD 1998-23, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
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  8. Louis Makowski & Joseph M. Ostroy & Uzi Segal, 1995. "Perfect Competition as the Blueprint for Efficiency and Incentive Compatibility," UCLA Economics Working Papers 745, UCLA Department of Economics. [Downloadable!]
  9. 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). [Downloadable!]
  10. Shigehiro Serizawa & John A. Weymark, 2002. "Efficient Strategy-Proof Exchange and Minimum Consumption Guarantees," Working Papers 0216, Department of Economics, Vanderbilt University, revised Aug 2002. [Downloadable!]
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  11. Hideki Mizukami & Takuma Wakayama, 2005. "Relationships between Non-Bossiness and Nash Implementability," Discussion Papers in Economics and Business 05-33, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP). [Downloadable!]
  12. Hideki Mizukami & Takuma Wakayama, 2004. "Dominant Strategy Implementation in Pure Exchange Economies," Discussion Papers in Economics and Business 04-03-Rev, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP), revised Mar 2005. [Downloadable!]
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