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Dissolving multi-partnerships efficiently

  • Bumin Yenmez, M.

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.

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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 48 (2012)
Issue (Month): 2 ()
Pages: 77-82

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Handle: RePEc:eee:mateco:v:48:y:2012:i:2:p:77-82
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  1. 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.
  2. Cramton, Peter & Gibbons, Robert & Klemperer, Paul, 1987. "Dissolving a Partnership Efficiently," Econometrica, Econometric Society, vol. 55(3), pages 615-32, May.
  3. Atila Abdulkadiroglu & Tayfun Sonmez & M. Utku Unver, 2002. "Room Assignment-Rent Division: A Market Approach," Game Theory and Information 0202003, EconWPA, revised 26 Sep 2002.
  4. Vijay Krishna & Motty Perry, 1997. "Efficient Mechanism Design," Game Theory and Information 9703010, EconWPA, revised 28 Apr 1998.
  5. Krishna, Vijay & Maenner, Eliot, 2001. "Convex Potentials with an Application to Mechanism Design," Econometrica, Econometric Society, vol. 69(4), pages 1113-19, July.
  6. Gershkov, Alex & Schweinzer, Paul, 2006. "When queueing is better than push and shove," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 144, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  7. Fieseler, Karsten & Kittsteiner, Thomas & Moldovanu, Benny, 1999. "Partnerships, Lemons and Efficient Trade," Sonderforschungsbereich 504 Publications 99-71, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  8. Jehiel, Philippe & Moldovanu, Benny & Stacchetti, Ennio, 1999. "Multidimensional Mechanism Design for Auctions with Externalities," Journal of Economic Theory, Elsevier, vol. 85(2), pages 258-293, April.
  9. 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.
  10. 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.
  11. Roger B. Myerson & Mark A. Satterthwaite, 1981. "Efficient Mechanisms for Bilateral Trading," Discussion Papers 469S, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  12. Steven R. Williams, 1999. "A characterization of efficient, bayesian incentive compatible mechanisms," Economic Theory, Springer, vol. 14(1), pages 155-180.
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