Dominant Strategies Implementation when Compensations are Allowed:a Characterization Fundación
Dominant strategies truthful implementation of flexible social objectives involves the ability of the planner to alter the individual incentives in such a way that the externality imposed on society by each agent reporting a given type is fully internalized in the agent’s final payoff. In other words, the agents’ objective function must mimic the social objectives. We find that our main result is robust enough to explain why well-known mechanisms like Groves’s transfers work in some contexts while some other social objectives are not implementable in dominant strategies.
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- Groves, Theodore & Loeb, Martin, 1975.
"Incentives and public inputs,"
Journal of Public Economics,
Elsevier, vol. 4(3), pages 211-226, August.
- Theodore Groves & Martin Loeb, 1974. "Incentives and Public Inputs," Discussion Papers 29, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
- Barbera, S. & Peleg, B., 1988. "Strategy-Proof Voting Schemes With Continuous Preferences," UFAE and IAE Working Papers 91.88, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July. Full references (including those not matched with items on IDEAS)
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