English, Article, Journal or magazine article edition: Overcoming Participation Constraints Fang, Hanming; Norman, Peter

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Bookmark: http://trove.nla.gov.au/version/39818
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Overcoming Participation Constraints
Author
  • Fang, Hanming
  • Norman, Peter
Physical Description
  • preprint
Notes
  • In incomplete information environments with transferable utility, efficient outcomes are generally implementable unless interim or ex post participation constraints are imposed on the problem. In this paper we show that linking a sufficiently large number of independent but possibly unrelated social decisions, a slightly perturbed Groves mechanism can implement an efficient outcome with probability arbitrarily close to one, while respecting all participation, incentive and balanced budget constraints.
  • Linking, Approximate Efficiency, Groves Mechanism, Participation Constraints
  • RePEc:ubc:pmicro:norman-05-04-22-05-35-30
Language
  • English
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