Maximal surplus from the pivotal mechanism: a closed form solution
The paper derives a closed form solution for the maximal surplus generated by the pivotal mechanism in the case of a binary public good. The formula may be used to compare the pivotal mechanism to other mechanisms. An illustration is provided to demonstrate how such a comparison may be made.
Volume (Year): 3 (1998)
Issue (Month): 4 ()
|Note:||Received: 30 April 1997 / Accepted: 16 June 1998|
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|Order Information:||Web: http://www.springer.com/economics/journal/10058|
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