On Sharing the Benefits of Communication
We put forward a model of private goods with externalities. Agents derive benefit from communicating with each other. In order to communicate they need to have a language in common. Learning languages is costly. In this setting no individually rational and feasible Groves mechanism exists. We characterize the best-in-class feasible Groves mechanism and the best-in-class individually rational Groves mechanism.
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- Victor Ginsburgh & Ignacio Ortuno-Ortin & Shlomo Weber, 2007.
"Learning foreign languages: theoretical and empirical implications of the Selten and Pool model,"
ULB Institutional Repository
2013/7274, ULB -- Universite Libre de Bruxelles.
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