This paper analyzes the problem of designing mechanisms to implement efficient solutions in economies with externalities. We provide two simple mechanisms implementaing the Pigouvian Social Choice Correspondence in environments in which coalitions can be formed. Finally, we study economies in which agents are incompletely informed, and provide a mechanism that implements this social choice correpondence in Bayesian equilibrium.
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Paper provided by Valencia - Instituto de Investigaciones Economicas in its series Papers with number
96-17.