Linking Decisions with Moments
This paper proposes a mechanism that can be operated without money in situations where agents have to decide over some common projects when they are not informed about others' preferences. The success of the mechanisms proposed in the literature to deal with similar problems usually relies on the assumption that the entire probability distribution that describes uncertainty is common knowledge. This modified linking mechanism requires the knowledge of solely two moment conditions. It proves to be a useful tool for achieving efficiency improvements in public decision problems. Jackson and Sonnenschein  offer the study of the so-called linking mechanism. Here I show that, while allowing for heterogeneity among problems and agents, the linking mechanism keeps its asymptotic properties when run with solely two moment conditions.
|Length:||21 pages pages|
|Date of creation:||Aug 2005|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.unav.es/facultad/econom |
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.:
- Alessandra Casella, 2002.
NBER Working Papers
9189, National Bureau of Economic Research, Inc.
- Róbert F. Veszteg, 2004.
"Multibidding Game under Uncertainty,"
Faculty Working Papers
14/04, School of Economics and Business Administration, University of Navarra.
- Preston McAfee, R., 1992. "Amicable divorce: Dissolving a partnership with simple mechanisms," Journal of Economic Theory, Elsevier, vol. 56(2), pages 266-293, April.
When requesting a correction, please mention this item's handle: RePEc:una:unccee:wp1005. 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: ()
If references are entirely missing, you can add them using this form.