An Experimental Evaluation of the Serial Cost Sharing Rule
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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- Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-1037, September.
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- Sean Gailmard & Thomas R. Palfrey, 2002. "An Experimental Comparison of Collective Choice Procedures for Excludable Public Goods," Working Papers 0214, Harris School of Public Policy Studies, University of Chicago.
- 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.
- 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.
- Hervé Moulin, 1994. "Serial Cost-Sharing of Excludable Public Goods," Review of Economic Studies, Oxford University Press, vol. 61(2), pages 305-325.
- Pamela J. Hinds & Sara Kiesler (ed.), 2002. "Distributed Work," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262083051, July.
- 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. Full references (including those not matched with items on IDEAS)