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A Note on Incentives in Large Economies

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  • Paul Champsaur
  • Guy Laroque

Abstract

Nash equilibria of anonymous and efficient mechanisms are studied in economies with a continuum of traders. Conditions are given under which some or all the Nash equilibria of such mechanisms yield competitive allocations. Particular attention is payed to the case of direct mechanisms where the truth constitutes a Nash equilibrium.

Suggested Citation

  • Paul Champsaur & Guy Laroque, 1982. "A Note on Incentives in Large Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(4), pages 627-635.
    • Handle: RePEc:oup:restud:v:49:y:1982:i:4:p:627-635.
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    File URL: http://hdl.handle.net/10.2307/2297291
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    Cited by:

    1. Cordoba, Jose M. & Hammond, Peter J., 1998. "Asymptotically strategy-proof Walrasian exchange," Mathematical Social Sciences, Elsevier, vol. 36(3), pages 185-212, December.
    2. Peter J. Hammond, 2003. "Equal rights to trade and mediate," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(2), pages 181-193, October.
    3. 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.
    4. Harris Dellas & Klaus Nehring, 2003. "Incentive-Compatible And Efficient Resource Allocation In Large Economies: An Exact And Local Approach," Working Papers 213, University of California, Davis, Department of Economics.
    5. Louis Makowski & Joseph M. Ostroy & Uzi Segal, 1995. "Perfect Competition as the Blueprint for Efficiency and Incentive Compatibility," UCLA Economics Working Papers 745, UCLA Department of Economics.

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