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A Solomonic solution to the problem of assigning a private indivisible good

  • Athanasiou, Efthymios
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    A benevolent Planner wishes to assign an indivisible private good to n claimants, each valuing the object differently. Individuals have quasi-linear preferences. Therefore, the possibility of transfers is allowed. A second-best efficient mechanism is a strategy-proof and anonymous mechanism that is not Pareto dominated by another strategy-proof and anonymous mechanism. In this context, we identify three conditions that are necessary and, together with Voluntary Participation, sufficient for a mechanism to be second-best efficient. This set includes mechanisms that destroy the good at certain profiles. For domains comprising two individuals we provide an explicit characterization of the family of second-best efficient mechanisms.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0899825613001097
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    Article provided by Elsevier in its journal Games and Economic Behavior.

    Volume (Year): 82 (2013)
    Issue (Month): C ()
    Pages: 369-387

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    Handle: RePEc:eee:gamebe:v:82:y:2013:i:c:p:369-387
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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