Incentives in Public Decision-makingSets out the basic negative results regarding the possibility of constructing general method. Explores the basic techniques for inducing revelation of individual preferences for collective action and describes the idea shows how it can be ... |
Contents
Social choice theory | 13 |
The basic model | 27 |
Satisfactory mechanisms | 47 |
Copyright | |
17 other sections not shown
Common terms and phrases
admissible strategies agents allocation anism approximation assume assumption asymptotically successful behavior bounded Bowen procedure buy information chapter Clarke mechanism coalition compute condition consider converges to zero cost decision maker defined definition denote differentiable dominant strategy Dubins mechanism economy endowment evaluation ex ante exists expected utility free rider problem given goes to infinity Groves mechanism incentive compatible income effects individual rationality instant K₁ K₂ large number marginal rate maximin maximizing MDP procedure mech Nash equilibrium negative no² normal distribution obtain optimal answer optimal sample optimum outcome Pareto optimal pivotal mechanism pivotal payments population positive possible problem Proof properties public project random rebate restrictions satisfactory mechanisms SIIC social choice social decision strategy spaces surplus symmetric theorem transfer functions truth utility functions v₁ valuation functions variance w₁ w₂ willingness to pay willingness-to-pay x₁ σ²