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Vickrey-Clarke-Groves mechanisms and perfect competition

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  • Makowski, Louis
  • Ostroy, Joseph M.

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  • Makowski, Louis & Ostroy, Joseph M., 1987. "Vickrey-Clarke-Groves mechanisms and perfect competition," Journal of Economic Theory, Elsevier, vol. 42(2), pages 244-261, August.
  • Handle: RePEc:eee:jetheo:v:42:y:1987:i:2:p:244-261
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    References listed on IDEAS

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    1. Groves, Theodore & Loeb, Martin, 1975. "Incentives and public inputs," Journal of Public Economics, Elsevier, vol. 4(3), pages 211-226, August.
    2. Walker, Mark, 1978. "A Note on the Characterization of Mechanisms for the Revelation of Preferences," Econometrica, Econometric Society, vol. 46(1), pages 147-152, January.
    3. Theodore Groves & John Ledyard, 1977. "Some limitations of demand revelaing processes," Public Choice, Springer, vol. 29(2), pages 107-124, March.
    4. Green, Jerry & Laffont, Jean-Jacques, 1977. "Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods," Econometrica, Econometric Society, vol. 45(2), pages 427-438, March.
    5. Ostroy, Joseph M., 1980. "The no-surplus condition as a characterization of perfectly competitive equilibrium," Journal of Economic Theory, Elsevier, vol. 22(2), pages 183-207, April.
    6. Hurwicz, Leonid, 1979. "On allocations attainable through Nash equilibria," Journal of Economic Theory, Elsevier, vol. 21(1), pages 140-165, August.
    7. Martin Loeb, 1977. "Alternative versions of the demand-revealing process," Public Choice, Springer, vol. 29(2), pages 15-26, March.
    8. Roberts, Donald John & Postlewaite, Andrew, 1976. "The Incentives for Price-Taking Behavior in Large Exchange Economies," Econometrica, Econometric Society, vol. 44(1), pages 115-127, January.
    9. Peter J. Hammond, 1979. "Straightforward Individual Incentive Compatibility in Large Economies," Review of Economic Studies, Oxford University Press, vol. 46(2), pages 263-282.
    10. Holmstrom, Bengt, 1979. "Groves' Scheme on Restricted Domains," Econometrica, Econometric Society, vol. 47(5), pages 1137-1144, September.
    11. Makowski, Louis, 1980. "A characterization of perfectly competitive economies with production," Journal of Economic Theory, Elsevier, vol. 22(2), pages 208-221, April.
    12. Kleinberg, Norman L., 1980. "Fair allocations and equal incomes," Journal of Economic Theory, Elsevier, vol. 23(2), pages 189-200, October.
    13. Hurwicz, Leonid & Walker, Mark, 1990. "On the Generic Nonoptimality of Dominant-Strategy Allocation Mechanisms: A General Theorem That Includes Pure Exchange Economies," Econometrica, Econometric Society, vol. 58(3), pages 683-704, May.
    14. Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
    15. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
    16. Champsaur, Paul & Laroque, Guy, 1981. "Fair allocations in large economies," Journal of Economic Theory, Elsevier, vol. 25(2), pages 269-282, October.
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    Citations

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    Cited by:

    1. Makowski, Louis & Ostroy, Joseph M. & Segal, Uzi, 1999. "Efficient Incentive Compatible Economies Are Perfectly Competitive," Journal of Economic Theory, Elsevier, vol. 85(2), pages 169-225, April.
    2. Makowski, Louis & Ostroy, Joseph M, 1995. "Appropriation and Efficiency: A Revision of the First Theorem of Welfare Economics," American Economic Review, American Economic Association, vol. 85(4), pages 808-827, September.
    3. Makowski, L. & Ostroy, J.M., 1991. "The Margin of Appropriation and an Extension of the First Theorem of Welfare Economics," Papers 388, California Davis - Institute of Governmental Affairs.
    4. Gretsky, Neil E. & Ostroy, Joseph M. & Zame, William R., 1999. "Perfect Competition in the Continuous Assignment Model," Journal of Economic Theory, Elsevier, vol. 88(1), pages 60-118, September.
    5. Demange, Gabrielle, 2009. "The strategy structure of some coalition formation games," Games and Economic Behavior, Elsevier, vol. 65(1), pages 83-104, January.
    6. Shigehiro Serizawa, 2006. "Strategy-Proof and Anonymous Allocation Rules of Indivisible Goods: A New Characterization of Vickrey Allocation Rule," ISER Discussion Paper 0648, Institute of Social and Economic Research, Osaka University.
    7. Makowski, Louis & Ostroy, Joseph M., 1992. "Vickrey-Clarke-Groves mechanisms in continuum economies : Characterization and existence," Journal of Mathematical Economics, Elsevier, vol. 21(1), pages 1-35.
    8. Bikhchandani, Sushil & Ostroy, Joseph M., 2002. "The Package Assignment Model," Journal of Economic Theory, Elsevier, vol. 107(2), pages 377-406, December.
    9. Guido Ruta & Piero Gottardi, 2009. "Equilibrium corporate finance," 2009 Meeting Papers 149, Society for Economic Dynamics.
    10. Ledyard, John O., "undated". "Public Goods: A Survey of Experimental Research," Working Papers 861, California Institute of Technology, Division of the Humanities and Social Sciences.
    11. Joseph M. Ostroy & Louis Makowski, 2001. "Perfect Competition and the Creativity of the Market," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 479-535, June.
    12. Yoon, Kiho, 2001. "The Modified Vickrey Double Auction," Journal of Economic Theory, Elsevier, vol. 101(2), pages 572-584, December.
    13. Gabrielle Demange, 2006. "The strategy structure of some coalition formation games," Working Papers halshs-00590290, HAL.
    14. Hiroki Saitoh & Shigehiro Serizawa, 2008. "Vickrey allocation rule with income effect," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(2), pages 391-401, May.
    15. Golecha, Rajdeep & Gan, Jianbang, 2016. "Effects of corn stover year-to-year supply variability and market structure on biomass utilization and cost," Renewable and Sustainable Energy Reviews, Elsevier, vol. 57(C), pages 34-44.
    16. Emmanuelle Auriol & Robert Gary-Bobo, 2007. "On Robust Constitution Design," Theory and Decision, Springer, vol. 62(3), pages 241-279, May.
    17. Bikhchandani, Sushil & Ostroy, Joseph M., 2006. "Ascending price Vickrey auctions," Games and Economic Behavior, Elsevier, vol. 55(2), pages 215-241, May.
    18. Louis Makowski & Joseph M. Ostroy, 1988. "Groves Mechanisms in Continuum Economies: Characterization and Existence," UCLA Economics Working Papers 518, UCLA Department of Economics.

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