A Clarke tax tâtonnement that converges to the Lindahl allocation
This paper uses the Clarke mechanism to construct an incentive compatible t âtonnement process which converges to the Lindahl allocation of a stylized public good economy when consumers have quadratic preferences. We show truth-telling to be an ex-post perfect equilibrium in the infinite horizon game induced by the tâtonnement. Copyright Springer-Verlag Berlin Heidelberg 2014
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Volume (Year): 43 (2014)
Issue (Month): 2 (August)
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