Mechanism Design in Queueing Problems
A well-known result in incentive theory is that for a very broad class of decision problems, there is no mechanism which achieves truth-telling in dominant strategies, efficiency and budget balancedness (or first best implementability). On the contrary, Mitra and Sen (1998), prove that linear cost queueing models are first best implementable. This paper is an attempt at identification of cost structures for which queueing models are first best implementable. The broad conclusion is that, this is a fairly large class. Some of these first best implementable models can be implemented by mechanisms that satisfy individually rationality.
|Date of creation:||01 Aug 2000|
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- Green, Jerry & Laffont, Jean-Jacques, 1977. "Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods," Econometrica, Econometric Society, vol. 45(2), pages 427-438, March.
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- Jeroen Suijs, 1996. "On incentive compatibility and budget balancedness in public decision making," Review of Economic Design, Springer;Society for Economic Design, vol. 2(1), pages 193-209, December.
- Holmstrom, Bengt, 1979. "Groves' Scheme on Restricted Domains," Econometrica, Econometric Society, vol. 47(5), pages 1137-1144, September.
- Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
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