IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Optimal Mechanism Design without Money

  • Alex Gershkov
  • Benny Moldovanu
  • Xianwen Shi

We consider the standard mechanism design environment with linear utility but without monetary transfers. We first establish an equivalence between deterministic, dominant strategy incentive compatible mechanisms and generalized median voter schemes. We then use this equivalence to construct the constrained-efficient optimal mechanism for an utilitarian planner.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.economics.utoronto.ca/public/workingPapers/tecipa-481.pdf
File Function: Main Text
Download Restriction: no

Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-481.

as
in new window

Length: Unknown pages
Date of creation: 10 Apr 2013
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-481
Contact details of provider: Postal: 150 St. George Street, Toronto, Ontario
Phone: (416) 978-5283

References listed on IDEAS
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.:

as in new window
  1. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
  2. H. Moulin, 1980. "On strategy-proofness and single peakedness," Public Choice, Springer, vol. 35(4), pages 437-455, January.
  3. Shurojit Chatterji & Arunava Sen, 2009. "Tops-Only Domains," Working Papers 06-2009, Singapore Management University, School of Economics.
  4. Salvador BARBER?Author-Email: salvador.barbera@uab.es & Matthew O. JACKSON, 2003. "On the Weights of Nations: Assigning Voting Weights in a Heterogenous Union," UFAE and IAE Working Papers 597.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  5. Nehring, Klaus & Puppe, Clemens, 2007. "The structure of strategy-proof social choice -- Part I: General characterization and possibility results on median spaces," Journal of Economic Theory, Elsevier, vol. 135(1), pages 269-305, July.
  6. Schummer, James & Vohra, Rakesh V., 2002. "Strategy-proof Location on a Network," Journal of Economic Theory, Elsevier, vol. 104(2), pages 405-428, June.
  7. Börgers, Tilman & Postl, Peter, 2009. "Efficient compromising," Journal of Economic Theory, Elsevier, vol. 144(5), pages 2057-2076, September.
  8. Satterthwaite, Mark Allen, 1975. "Strategy-proofness and Arrow's conditions: Existence and correspondence theorems for voting procedures and social welfare functions," Journal of Economic Theory, Elsevier, vol. 10(2), pages 187-217, April.
  9. Jehiel, Philippe & Moldovanu, Benny & Stacchetti, Ennio, 1999. "Multidimensional Mechanism Design for Auctions with Externalities," Journal of Economic Theory, Elsevier, vol. 85(2), pages 258-293, April.
  10. Ehlers, Lars & Peters, Hans & Storcken, Ton, 2002. "Strategy-Proof Probabilistic Decision Schemes for One-Dimensional Single-Peaked Preferences," Journal of Economic Theory, Elsevier, vol. 105(2), pages 408-434, August.
  11. Condorelli, Daniele, 2012. "What money canʼt buy: Efficient mechanism design with costly signals," Games and Economic Behavior, Elsevier, vol. 75(2), pages 613-624.
  12. Chakravarty, Surajeet & Kaplan, Todd R., 2013. "Optimal allocation without transfer payments," Games and Economic Behavior, Elsevier, vol. 77(1), pages 1-20.
  13. Bagnoli, M. & Bergstrom, T., 1989. "Log-Concave Probability And Its Applications," Papers 89-23, Michigan - Center for Research on Economic & Social Theory.
  14. Schmitz, Patrick W. & Tröger, Thomas, 2011. "The (sub-)optimality of the majority rule," MPRA Paper 32716, University Library of Munich, Germany.
  15. Kovác, Eugen & Mylovanov, Tymofiy, 2009. "Stochastic mechanisms in settings without monetary transfers: The regular case," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1373-1395, July.
  16. Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, 01.
  17. Alex Gershkov & Jacob K. Goeree & Alexey Kushnir & Benny Moldovanu & Xianwen Shi, 2013. "On the Equivalence of Bayesian and Dominant Strategy Implementation," Econometrica, Econometric Society, vol. 81(1), pages 197-220, 01.
  18. Yves Sprumont, 1995. "Strategyproof Collective Choice in Economic and Political Environments," Canadian Journal of Economics, Canadian Economics Association, vol. 28(1), pages 68-107, February.
  19. Kleiner, Andreas & Drexl, Moritz, 2013. "Why Voting? A Welfare Analysis," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79886, Verein für Socialpolitik / German Economic Association.
  20. Nisan, Noam & Ronen, Amir, 2001. "Algorithmic Mechanism Design," Games and Economic Behavior, Elsevier, vol. 35(1-2), pages 166-196, April.
  21. Richard McLean & Andrew Postlewaite, . "Informational Size and Incentive Compatibility," CARESS Working Papres 99-14, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  22. Sprumont, Yves, 1991. "The Division Problem with Single-Peaked Preferences: A Characterization of the Uniform Allocation Rule," Econometrica, Econometric Society, vol. 59(2), pages 509-19, March.
  23. Jose Apesteguia & Miguel A. Ballester & Rosa Ferrer, 2011. "On the Justice of Decision Rules," Review of Economic Studies, Oxford University Press, vol. 78(1), pages 1-16.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:tor:tecipa:tecipa-481. 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: (RePEc Maintainer)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.