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Resource Allocation Mechanisms

Author

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  • Campbell,Donald E.

Abstract

Resource Allocation Mechanisms derives the general welfare properties of systems in which individuals are motivated by self-interest. Satisfactory outcomes will emerge only if individual incentives are harnessed by means of a communication and payoff process, or mechanism, involving every agent. Professor Campbell employs a formal and abstract model of a mechanism that brings into prominence the criteria by which the performance of an economy is to be judged. The mechanism approach is used to prove some fundamental theorems about the possibility of designing an economic system satisfying the criteria. It also establishes a way of thinking about economic issues that is becoming increasingly useful in special branches of economics, such as industrial organization and public finance. This book can be viewed as two different texts: one constitutes an introduction to the theory of mechanism design and the other is a treatment of welfare economics with conventional emphasis on Pareto optimality as well as providing substantial material on incentives, uncertainty, and existence of equilibrium.

Suggested Citation

  • Campbell,Donald E., 1987. "Resource Allocation Mechanisms," Cambridge Books, Cambridge University Press, number 9780521319904.
    • Handle: RePEc:cup:cbooks:9780521319904
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    Citations

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    Cited by:

    1. Cheng, John Q & Wellman, Michael P, 1998. "The WALRAS Algorithm: A Convergent Distributed Implementation of General Equilibrium Outcomes," Computational Economics, Springer;Society for Computational Economics, vol. 12(1), pages 1-24, August.
    2. Romstad, Eirik, 2009. "Ambiguous jointness and multifunctionality," 2009 Conference, August 16-22, 2009, Beijing, China 51539, International Association of Agricultural Economists.
    3. Daniel McMillen & William Niskanen & Wayne Brough & Geoffrey Brennan & Gordon Tullock & Van Kolpin & Loren Lomasky & Peter Aranson & Joe Head & Thomas Dye & John Dryzek, 1989. "Book reviews," Public Choice, Springer, vol. 63(2), pages 183-200, November.
    4. Somdeb Lahiri, 2005. "Manipulation via Endowments in a Market with Profit Maximizing Agents," Game Theory and Information 0511008, University Library of Munich, Germany.
    5. Amavilah, Voxi Heinrich, 2016. "The 'Common Goood' in Pope Francis's Social Welfare Hypothesis," MPRA Paper 71760, University Library of Munich, Germany.
    6. Romstad, Eirik, 2002. "Policies for Promoting Public Goods in Agriculture," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24930, European Association of Agricultural Economists.
    7. Lahiri, Somdeb, 2008. "Manipulation of market equilibrium via endowments," MPRA Paper 10002, University Library of Munich, Germany.
    8. Bergland, Olvar & Kim, Seung-Woo & McLeod, Don & Romstad, Eirik, 1989. "Estimation of Optimal Congestion Levels: Deer Hunting in Western Oregon," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270485, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Somdeb Lahiri, 2005. "Consistency and the Competitive Outcome Function," Game Theory and Information 0512002, University Library of Munich, Germany.
    10. Romstad, Eirik, 2012. "Truthful revelation in nonmarket valuation," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126724, International Association of Agricultural Economists.
    11. Kenneth J. Koford & Jeffrey B. Miller & David C. Colander, 1993. "Application of Market Anti-inflation Plans in the Transition to a Market Economy," Eastern Economic Journal, Eastern Economic Association, vol. 19(3), pages 379-393, Summer.
    12. Shizhong Ai & Rong Du & Qiying Hu, 2010. "Dynamic Optimal Budget Allocation For Integrated Marketing Considering Persistence," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 9(05), pages 715-736.

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