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Dissolving multi-partnerships efficiently

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  • Bumin Yenmez, M.

Abstract

I study a market where agents with unit demand jointly own heterogeneous goods. In this market, the existence of an efficient, incentive compatible, individually rational, and budget balanced mechanism depends on the shares of the agents. I characterize the set of shares for which having such a mechanism is possible. This set includes the symmetric allocation and excludes the allocation in which every agent owns a separate good.

Suggested Citation

  • Bumin Yenmez, M., 2012. "Dissolving multi-partnerships efficiently," Journal of Mathematical Economics, Elsevier, vol. 48(2), pages 77-82.
  • Handle: RePEc:eee:mateco:v:48:y:2012:i:2:p:77-82
    DOI: 10.1016/j.jmateco.2012.01.001
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    References listed on IDEAS

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    1. Cramton, Peter & Gibbons, Robert & Klemperer, Paul, 1987. "Dissolving a Partnership Efficiently," Econometrica, Econometric Society, vol. 55(3), pages 615-632, May.
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    3. Atila Abdulkadiroglu & Tayfun Sonmez, 1998. "Random Serial Dictatorship and the Core from Random Endowments in House Allocation Problems," Econometrica, Econometric Society, vol. 66(3), pages 689-702, May.
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    5. Makowski Louis & Mezzetti Claudio, 1994. "Bayesian and Weakly Robust First Best Mechanisms: Characterizations," Journal of Economic Theory, Elsevier, vol. 64(2), pages 500-519, December.
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    7. Alex Gershkov & Paul Schweinzer, 2010. "When queueing is better than push and shove," International Journal of Game Theory, Springer;Game Theory Society, vol. 39(3), pages 409-430, July.
    8. Segal, Ilya R. & Whinston, Michael D., 2011. "A simple status quo that ensures participation (with application to efficient bargaining)," Theoretical Economics, Econometric Society, vol. 6(1), January.
    9. Fieseler, Karsten & Kittsteiner, Thomas & Moldovanu, Benny, 2003. "Partnerships, lemons, and efficient trade," Journal of Economic Theory, Elsevier, vol. 113(2), pages 223-234, December.
    10. Krishna, Vijay & Maenner, Eliot, 2001. "Convex Potentials with an Application to Mechanism Design," Econometrica, Econometric Society, vol. 69(4), pages 1113-1119, July.
    11. Steven R. Williams, 1999. "A characterization of efficient, bayesian incentive compatible mechanisms," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 155-180.
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    Citations

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    Cited by:

    1. Ludwig Ensthaler & Thomas Giebe & Jianpei Li, 2014. "Speculative partnership dissolution with auctions," Review of Economic Design, Springer;Society for Economic Design, vol. 18(2), pages 127-150, June.
    2. Ilya Segal & Michael D.Whinston, 2012. "Property Rights," Introductory Chapters,in: Robert Gibbons & John Roberts (ed.), : The Handbook of Organizational Economics Princeton University Press.
    3. Robert Gibbons, Editor & John Roberts, Editor, 2012. "The Handbook of Organizational Economics," Economics Books, Princeton University Press, edition 1, number 9889.
    4. M. Yenmez, 2015. "Incentive compatible market design with applications," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(3), pages 543-569, August.

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