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Inefficiencies on Linking Decisions

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  • Rafael Hortala-Vallve

Abstract

Jackson and Sonnenschein (2006) show that by linking collective decisions the incentive costs can become negligible and, at the limit, ex-ante efficiency can be achieved. In a voting situation this implies that the agents` intensity of preferences can be taken into account even in the absence of monetary transfers. Rather than considering a limiting result we want to analyse what can be achieved while we consider a finite number of linked decisions. We first characterise the set of implementable mechanisms and show that ex-ante efficiency can never be achieved. We then proceed to relax the efficiency requirement and prove that, even when we just require unanimity, the mechanism cannot be sensitive to the agents` intensity of preference.

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Bibliographic Info

Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 321.

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Date of creation: 01 Apr 2007
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Handle: RePEc:oxf:wpaper:321

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Keywords: Linking Decisions; Mechanism Design; Multidimensional Screening; Strategy-Proofness; Intensity Problem; Separable Preferences;

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References

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  1. Tilman Börgers & Peter Postl, 2005. "Efficient Compromising," Levine's Bibliography 122247000000000801, UCLA Department of Economics.
  2. Dirk Bergemann & Stephen Morris, 2005. "Robust Implementation: The Role of Large Type Spaces," Cowles Foundation Discussion Papers 1519, Cowles Foundation for Research in Economics, Yale University.
  3. Hanming Fang & Peter Norman, 2005. "Overcoming Participation Constraints," Cowles Foundation Discussion Papers 1511R, Cowles Foundation for Research in Economics, Yale University, revised Apr 2006.
  4. Barbera, S. & Sonnenschein, H., 1988. "Voting By Quota And Committee," UFAE and IAE Working Papers 95-88, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  5. Eliaz, Kfir & Ray, Debraj & Razin, Ronny, 2004. "Group Decision-Making in the Shadow of Disagreement," CEPR Discussion Papers 4480, C.E.P.R. Discussion Papers.
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  7. Satterthwaite, Mark Allen, 1975. "Strategy-proofness and Arrow's conditions: Existence and correspondence theorems for voting procedures and social welfare functions," Journal of Economic Theory, Elsevier, vol. 10(2), pages 187-217, April.
  8. Michel Le Breton & Arunava Sen, 1999. "Separable Preferences, Strategyproofness, and Decomposability," Econometrica, Econometric Society, vol. 67(3), pages 605-628, May.
  9. Casella, Alessandra, 2002. "Storable Votes," CEPR Discussion Papers 3508, C.E.P.R. Discussion Papers.
  10. Dutta, Bhaskar & Peter, Hans & Sen, Arunava, 2005. "Strategy-proof Cardinal Decision Schemes," The Warwick Economics Research Paper Series (TWERPS) 722, University of Warwick, Department of Economics.
  11. Rafael Hortala-Vallve, 2012. "Qualitative voting," Journal of Theoretical Politics, , vol. 24(4), pages 526-554, October.
  12. Gibbard, Allan, 1977. "Manipulation of Schemes That Mix Voting with Chance," Econometrica, Econometric Society, vol. 45(3), pages 665-81, April.
  13. Salvador Barbera & Hugo Sonnenschein & Lin Zhou, 1990. "Voting by Committees," Cowles Foundation Discussion Papers 941, Cowles Foundation for Research in Economics, Yale University.
  14. Zhou, Lin, 1990. "On a conjecture by gale about one-sided matching problems," Journal of Economic Theory, Elsevier, vol. 52(1), pages 123-135, October.
  15. Rochet, J. C., 1985. "The taxation principle and multi-time Hamilton-Jacobi equations," Journal of Mathematical Economics, Elsevier, vol. 14(2), pages 113-128, April.
  16. Jean-Charles Rochet & Philippe Chone, 1998. "Ironing, Sweeping, and Multidimensional Screening," Econometrica, Econometric Society, vol. 66(4), pages 783-826, July.
  17. Partha Dasgupta & Eric Maskin, 2008. "On The Robustness of Majority Rule," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 949-973, 09.
  18. Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, 01.
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Cited by:
  1. Rafael Hortala-Vallve, 2012. "Qualitative voting," Journal of Theoretical Politics, , vol. 24(4), pages 526-554, October.
  2. Drexl, Moritz & Kleiner, Andreas, 2013. "Preference Intensities in Repeated Collective Decision-Making," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79832, Verein für Socialpolitik / German Economic Association.

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