Overcoming Participation Constraints
In incomplete information environments with transferable utility, efficient outcomes are generally implementable unless interim or ex post participation constraints are imposed on the problem. In this paper we show that linking a sufficiently large number of independent but possibly unrelated social decisions, a slightly perturbed Groves mechanism can implement an efficient outcome with probability arbitrarily close to one, while respecting all participation, incentive and balanced budget constraints.
|Date of creation:||May 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (203) 432-3702
Fax: (203) 432-6167
Web page: http://cowles.econ.yale.edu/
More information through EDIRC
|Order Information:|| Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Börgers, Tilman & Postl, Peter, 2009.
Journal of Economic Theory,
Elsevier, vol. 144(5), pages 2057-2076, September.
- Tilman Börgers & Peter Postl, 2005. "Efficient Compromising," Levine's Bibliography 784828000000000188, UCLA Department of Economics.
- Tilman Börgers & Peter Postl, 2005. "Efficient Compromising," Levine's Bibliography 122247000000000801, UCLA Department of Economics.
- Tilman Börgers & Peter Postl, 2008. "Efficient Compromising," Discussion Papers 06-11R, Department of Economics, University of Birmingham.
- Peter Norman, 2004.
"Efficient Mechanisms for Public Goods with Use Exclusions,"
Review of Economic Studies,
Wiley Blackwell, vol. 71(4), pages 1163-1188, October.
- Norman,P., 2000. "Efficient mechanisms for public goods with use exclusions," Working papers 15, Wisconsin Madison - Social Systems.
- Roger B. Myerson & Mark A. Satterthwaite, 1981.
"Efficient Mechanisms for Bilateral Trading,"
469S, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Yannis Bakos & Erik Brynjolfsson, 1999.
"Bundling Information Goods: Pricing, Profits, and Efficiency,"
INFORMS, vol. 45(12), pages 1613-1630, December.
- Yannis Bakos & Erik Brynjolfsson, 1997. "Bundling Information Goods: Pricing, Profits and Efficiency," Working Paper Series 199, MIT Center for Coordination Science.
- Casella, Alessandra, 2002.
CEPR Discussion Papers
3508, C.E.P.R. Discussion Papers.
- d'Aspremont, Claude & Gerard-Varet, Louis-Andre, 1979.
"Incentives and incomplete information,"
Journal of Public Economics,
Elsevier, vol. 11(1), pages 25-45, February.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Armstrong, Mark, 2006. "Price discrimination," MPRA Paper 4693, University Library of Munich, Germany.
- Mailath, George J & Postlewaite, Andrew, 1990. "Asymmetric Information Bargaining Problems with Many Agents," Review of Economic Studies, Wiley Blackwell, vol. 57(3), pages 351-67, July.
- Copeland, Brian R & Taylor, M Scott, 1995. "Trade and Transboundary Pollution," American Economic Review, American Economic Association, vol. 85(4), pages 716-37, September.
- Spagnolo, Giancarlo, 2001. "Issue Linkage, Credible Delegation, and Policy Cooperation," CEPR Discussion Papers 2778, C.E.P.R. Discussion Papers.
- Susan Athey & Ilya Segal, 2007. "An Efficient Dynamic Mechanism," Levine's Bibliography 122247000000001134, UCLA Department of Economics.
- Peter Norman, 2004. "Efficient Mechanisms for Public Goods with Use Exclusions," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 1163-1188.
When requesting a correction, please mention this item's handle: RePEc:cwl:cwldpp:1511. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Glena Ames)
If references are entirely missing, you can add them using this form.