Overcoming Participation Constraints
52 Pages Posted: 3 May 2006
There are 2 versions of this paper
Overcoming Participation Constraints
Overcoming Participation Constraints
Date Written: April 2005
Abstract
This paper shows that linking a sufficiently large number of independent but unrelated social decisions can achieve approximate efficiency. We provide regularity conditions under which a Groves mechanism amended with a veto game implements an efficient outcome with probability arbitrarily close to one, and satisfies interim participation, incentive and resource constraints.
Note: A previous version of this abstract can be found at: http://ssrn.com/abstract=713023
Keywords: Linking, Participation Constraints, Groves Mechanisms, Veto Power
JEL Classification: D61, D82, H41
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Efficient Mechanisms for Public Goods with Use Exclusions
By Peter Norman
-
An Efficiency Rationale for Bundling of Public Goods
By Hanming Fang and Peter Norman
-
By Hanming Fang and Peter Norman
-
Monopolistic Provision of Excludable Public Goods Under Private Information
-
Toward an Efficiency Rationale for the Public Provision of Private Goods
By Hanming Fang and Peter Norman
-
Portfolio Diversification and Value at Risk Under Thick-Tailedness
-
Optimal Provision of Multiple Excludable Public Goods
By Hanming Fang and Peter Norman
-
Optimal Provision of Multiple Excludable Public Goods
By Hanming Fang and Peter Norman
-
The Provision and Pricing of Excludable Public Goods: Ramsey-Boiteux Pricing Versus Bundling
-
A Note on Budget Balance Under Interim Participation Constraints: The Case of Independent Types
By Tilman Borgers and Peter Norman
