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A Bayesian Incentive Compatible Mechanism for Fair Division

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  • Yuji Fujinaka
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    Abstract

    We consider the problem of fairly allocating one indivisible object when monetary transfers are possible, and examine the existence of Bayesian incentive compatible mechanisms to solve the problem. We propose a mechanism that satisfies envy-freeness, budget balancedness, and Bayesian incentive compatibility. Further, we establish the uniqueness of the mechanism under an order additivity condition. This result contrasts well with various results on the incompatibility between efficiency and ex post incentive compatibility.

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    File URL: http://www.iser.osaka-u.ac.jp/library/dp/2008/DP0721.pdf
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    Bibliographic Info

    Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0721.

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    Date of creation: Nov 2008
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    Handle: RePEc:dpr:wpaper:0721

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    1. Yuji Fujinaka & Toyotaka Sakai, 2007. "The Manipulability of Fair Solutions in Assignment of an Indivisible Object with Monetary Transfers," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(6), pages 993-1011, December.
    2. Fieseler, Karsten & Kittsteiner, Thomas & Moldovanu, Benny, 2003. "Partnerships, lemons, and efficient trade," Journal of Economic Theory, Elsevier, vol. 113(2), pages 223-234, December.
    3. Sakai, Toyotaka, 2007. "Fairness and implementability in allocation of indivisible objects with monetary compensations," Journal of Mathematical Economics, Elsevier, vol. 43(5), pages 549-563, June.
    4. Fujinaka, Yuji & Sakai, Toyotaka, 2007. "Maskin monotonicity in economies with indivisible goods and money," Economics Letters, Elsevier, vol. 94(2), pages 253-258, February.
    5. 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.
    6. Bochet, Olivier & Sakai, Toyotaka, 2007. "Strategic manipulations of multi-valued solutions in economies with indivisibilities," Mathematical Social Sciences, Elsevier, vol. 53(1), pages 53-68, January.
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