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Achieving the First Best in Sequencing Problems

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  • Mitra, Manipushpak

Abstract

In a sequencing problem with linear time cost, Suijs (1996) proved that it is possible to achieve first best. By first best we mean that one can find mechanisms that satisfy efficiency of decision, dominant strategy incentive compatibility and budget balancedness. In this paper we show that among a more general and natural class of sequencing problems, sequencing problems with linear cost is the only class for which first best can be achieved.

Suggested Citation

  • Mitra, Manipushpak, 2000. "Achieving the First Best in Sequencing Problems," Bonn Econ Discussion Papers 11/2001, University of Bonn, Bonn Graduate School of Economics (BGSE).
    • Handle: RePEc:zbw:bonedp:112001
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    Keywords

    Sequencing problems; Dominant strategy incentive compatibility; Efficiency; Budget balancedness;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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