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On the Uniqueness of Dynamic Groves Mechanisms

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  • Kiho Yoon

    () (Department of Economics, Korea University, Seoul, Republic of Korea)

Abstract

This paper defines the class of dynamic Groves mechanisms, and examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms. Our approach is to appropriately define the total reward function, which is a dynamic counterpart of the valuation function, and then to port the results for static Groves mechanisms to the dynamic setting.

Suggested Citation

  • Kiho Yoon, 2015. "On the Uniqueness of Dynamic Groves Mechanisms," Discussion Paper Series 1505, Institute of Economic Research, Korea University.
  • Handle: RePEc:iek:wpaper:1505
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    File URL: http://econ.korea.ac.kr/~ri/WorkingPapers/w1505.pdf
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    References listed on IDEAS

    as
    1. Yoon, Kiho, 2015. "On budget balance of the dynamic pivot mechanism," Games and Economic Behavior, Elsevier, vol. 94(C), pages 206-213.
    2. Dirk Bergemann & Juuso V‰lim‰ki, 2010. "The Dynamic Pivot Mechanism," Econometrica, Econometric Society, vol. 78(2), pages 771-789, March.
    3. Carbajal, Juan Carlos, 2010. "On the uniqueness of Groves mechanisms and the payoff equivalence principle," Games and Economic Behavior, Elsevier, vol. 68(2), pages 763-772, March.
    4. 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.
    5. Susan Athey & Ilya Segal, 2013. "An Efficient Dynamic Mechanism," Econometrica, Econometric Society, vol. 81(6), pages 2463-2485, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Groves mechanism; dynamic mechanism design; ex-post incentive compatibility; outcome efficiency;

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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