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Market and non-market mechanisms for the optimal allocation of scarce resources

  • Condorelli, Daniele
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    A number of identical objects is allocated to a set of privately informed agents. Agents have linear utility in money. The designer wants to assign objects to agents that possess specific traits, but the allocation can only be conditioned on the willingness to pay and on observable characteristics. I solve for the optimal mechanism. The choice between market or non-market mechanisms depends on the statistical linkage between characteristics valued by the designer and willingness to pay.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0899825613001255
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    Article provided by Elsevier in its journal Games and Economic Behavior.

    Volume (Year): 82 (2013)
    Issue (Month): C ()
    Pages: 582-591

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    Handle: RePEc:eee:gamebe:v:82:y:2013:i:c:p:582-591
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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    1. Roth, Alvin, 2007. "Repugnance as a Constraint on Markets," Scholarly Articles 2624677, Harvard University Department of Economics.
    2. Krishna, Vijay & Maenner, Eliot, 2001. "Convex Potentials with an Application to Mechanism Design," Econometrica, Econometric Society, vol. 69(4), pages 1113-19, July.
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    5. Condorelli, Daniele, 2012. "What money canʼt buy: Efficient mechanism design with costly signals," Games and Economic Behavior, Elsevier, vol. 75(2), pages 613-624.
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    8. Yeon-Koo Che & Ian Gale & Jinwoo Kim, 2013. "Assigning Resources to Budget-Constrained Agents," Review of Economic Studies, Oxford University Press, vol. 80(1), pages 73-107.
    9. Hakenes, Hendrik & Schnabel, Isabel, 2000. "License Auctions and Market Structure," Sonderforschungsbereich 504 Publications 01-21, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
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    14. Paul Klemperer, 2004. "Introduction to Auctions: Theory and Practice
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