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An Experimental Evaluation of the Serial Cost Sharing Rule

  • Laura Razzolini

    ()

    (Department of Economics, VCU School of Business)

  • Michael Reksulak

    (Georgia Southern University)

  • Robert Dorsey

    (FNC, Inc.)

This paper proposes an experimental test of the strategic equilibrium properties of the serial cost sharing rule originally proposed by Shenker (1990) and then analyzed by Moulin and Shenker (1992). We report measure of the performance and efficiency of the serial mechanism by comparing the choices and payoffs attained by the subjects to the expected first best allocations. Experimental evidence shows that, while some learning is needed, the serial mechanism leads to almost efficient allocations.

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File URL: http://www.people.vcu.edu/~lrazzolini/serial.pdf
File Function: This version, 2004
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Paper provided by VCU School of Business, Department of Economics in its series Working Papers with number 0402.

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Length: 24 pages
Date of creation: Nov 2004
Date of revision:
Handle: RePEc:vcu:wpaper:0402
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Web page: http://www.business.vcu.edu/economics
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  1. Yan Chen & Laura Razzolini & Theodore Turocy, 2007. "Congestion allocation for distributed networks: an experimental study," Economic Theory, Springer, vol. 33(1), pages 121-143, October.
  2. Moulin, Herve, 1994. "Serial Cost-Sharing of Excludable Public Goods," Review of Economic Studies, Wiley Blackwell, vol. 61(2), pages 305-25, April.
  3. Pamela J. Hinds & Sara Kiesler (ed.), 2002. "Distributed Work," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262083051, June.
  4. Deb, Rajat & Razzolini, Laura, 1999. "Voluntary cost sharing for an excludable public project," Mathematical Social Sciences, Elsevier, vol. 37(2), pages 123-138, March.
  5. Gailmard, Sean & Palfrey, Thomas R., 2005. "An experimental comparison of collective choice procedures for excludable public goods," Journal of Public Economics, Elsevier, vol. 89(8), pages 1361-1398, August.
  6. Greenwald, Amy & Friedman, Eric J. & Shenker, Scott, 2001. "Learning in Network Contexts: Experimental Results from Simulations," Games and Economic Behavior, Elsevier, vol. 35(1-2), pages 80-123, April.
  7. Friedman, Eric & Shor, Mikhael & Shenker, Scott & Sopher, Barry, 2004. "An experiment on learning with limited information: nonconvergence, experimentation cascades, and the advantage of being slow," Games and Economic Behavior, Elsevier, vol. 47(2), pages 325-352, May.
  8. Eric J Friedman & Scott Schenker, 1997. "Learning and Implementation on the Internet," Levine's Working Paper Archive 595, David K. Levine.
  9. Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-37, September.
  10. Deb, Rajat & Razzolini, Laura, 1999. "Auction-Like Mechanisms for Pricing Excludable Public Goods," Journal of Economic Theory, Elsevier, vol. 88(2), pages 340-368, October.
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