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Inefficiencies on linking decisions

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  • Rafael Hortala-Vallve

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Abstract

Jackson and Sonnenschein (2006) show that by linking collective decisions the incentive costs can become negligible and, at the limit, ex-ante efficiency can be achieved. In a voting situation this implies that the agents` intensity of preferences can be taken into account even in the absence of monetary transfers. Rather than considering a limiting result we want to analyse what can be achieved while we consider a finite number of linked decisions. We first characterise the set of implementable mechanisms and show that ex-ante efficiency can never be achieved. We then proceed to relax the efficiency requirement and prove that, even when we just require unanimity, the mechanism cannot be sensitive to the agents` intensity of preference.
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Suggested Citation

  • Rafael Hortala-Vallve, 2010. "Inefficiencies on linking decisions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 34(3), pages 471-486, March.
  • Handle: RePEc:spr:sochwe:v:34:y:2010:i:3:p:471-486
    DOI: 10.1007/s00355-009-0412-6
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    References listed on IDEAS

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    1. Dirk Bergemann & Stephen Morris, 2005. "Robust Implementation: The Role of Large Type Spaces," Levine's Bibliography 784828000000000116, UCLA Department of Economics.
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    Cited by:

    1. Drexl, Moritz & Kleiner, Andreas, 2013. "Preference Intensities in Repeated Collective Decision-Making," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79832, Verein für Socialpolitik / German Economic Association.
    2. Rafael Hortala-Vallve, 2012. "Qualitative voting," Journal of Theoretical Politics, , vol. 24(4), pages 526-554, October.
    3. Yingni Guo & Johannes Horner, 2015. "Dynamic Mechanisms without Money," Cowles Foundation Discussion Papers 1985, Cowles Foundation for Research in Economics, Yale University.
    4. Rafael Hortalà-Vallvé, 2010. "Qualitative Voting," Cuadernos de Economía - Spanish Journal of Economics and Finance, ELSEVIER, vol. 33(92), pages 5-44, Mayo-Sept.

    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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