Strategy-Proof Mechanism Design With Non-Quasilinear Preferences: Ex-Post Revenue Maximization for an Arbitrary Number of Objects
ISER DP No. 1107, 2020
17 Pages Posted: 4 Jan 2021
Date Written: October 25, 2020
We consider the multi-object allocation problem with monetary transfers where each agent obtains at most one object (unit-demand). We focus on allocation rules satisfying individual rationality, non-wastefulness, equal treatment of equals, and strategy-proofness. Extending the result of Kazumura et al. (2020B), we show that for an arbitrary number of agents and objects, the minimum price Walrasian is the unique ex-post revenue maximizing rule among the rules satisfying no subsidy in addition to the four properties, and that no subsidy in this result can be replaced by no bankruptcy on the positive income effect domain.
Keywords: Multi-Object Allocation Problem, Strategy-Proofness, Ex-Post Revenue Maximization, Minimum Price Walrasian Rule, Non-Quasi-Linear Preference, Equal Treatment of Equals, Non-Wastefulness.
JEL Classification: D82, D47, D63.
Suggested Citation: Suggested Citation