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Vickrey-Clarke-Groves mechanisms in continuum economies : Characterization and existence

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  • Makowski, Louis
  • Ostroy, Joseph M.

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  • Makowski, Louis & Ostroy, Joseph M., 1992. "Vickrey-Clarke-Groves mechanisms in continuum economies : Characterization and existence," Journal of Mathematical Economics, Elsevier, vol. 21(1), pages 1-35.
    • Handle: RePEc:eee:mateco:v:21:y:1992:i:1:p:1-35
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    1. Andreu Mas-Colell & Xavier Vives, 1993. "Implementation in Economies with a Continuum of Agents," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(3), pages 613-629.
    2. Rob, Rafael, 1982. "Asymptotic efficiency of the demand revealing mechanism," Journal of Economic Theory, Elsevier, vol. 28(2), pages 207-220, December.
    3. Walker, Mark, 1980. "On the Nonexistence of a Dominant Strategy Mechanism for Making Optimal Public Decisions," Econometrica, Econometric Society, vol. 48(6), pages 1521-1540, September.
    4. Varian, Hal R., 1976. "Two problems in the theory of fairness," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 249-260.
    5. Muench, Thomas J., 1972. "The core and the Lindahl equilibrium of an economy with a public good: an example," Journal of Economic Theory, Elsevier, vol. 4(2), pages 241-255, April.
    6. Kleinberg, Norman L., 1980. "Fair allocations and equal incomes," Journal of Economic Theory, Elsevier, vol. 23(2), pages 189-200, October.
    7. Jerry Green & Jean-Jacques Laffont, 1979. "On Coalition Incentive Compatibility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(2), pages 243-254.
    8. Makowski, Louis & Ostroy, Joseph M., 1987. "Vickrey-Clarke-Groves mechanisms and perfect competition," Journal of Economic Theory, Elsevier, vol. 42(2), pages 244-261, August.
    9. Roberts, John, 1976. "The incentives for correct revelation of preferences and the number of consumers," Journal of Public Economics, Elsevier, vol. 6(4), pages 359-374, November.
    10. Groves, Theodore & Loeb, Martin, 1975. "Incentives and public inputs," Journal of Public Economics, Elsevier, vol. 4(3), pages 211-226, August.
    11. Walker, Mark, 1978. "A Note on the Characterization of Mechanisms for the Revelation of Preferences," Econometrica, Econometric Society, vol. 46(1), pages 147-152, January.
    12. Mitsui, Toshihide, 1983. "Asymptotic efficiency of the pivotal mechanism with general project space," Journal of Economic Theory, Elsevier, vol. 31(2), pages 318-331, December.
    13. Peter J. Hammond, 1979. "Straightforward Individual Incentive Compatibility in Large Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(2), pages 263-282.
    14. Laffont, Jean-Jacques & Maskin, Eric, 1980. "A Differential Approach to Dominant Strategy Mechanisms," Econometrica, Econometric Society, vol. 48(6), pages 1507-1520, September.
    15. Hurwicz, Leonid & Walker, Mark, 1990. "On the Generic Nonoptimality of Dominant-Strategy Allocation Mechanisms: A General Theorem That Includes Pure Exchange Economies," Econometrica, Econometric Society, vol. 58(3), pages 683-704, May.
    16. Donald John Roberts & Andrew Postlewaite, 1973. "The Incentives for Price-Taking Behavior In Large Economies," Discussion Papers 44, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    17. Champsaur, Paul & Laroque, Guy, 1981. "Fair allocations in large economies," Journal of Economic Theory, Elsevier, vol. 25(2), pages 269-282, October.
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    Cited by:

    1. Makowski, L. & Ostroy, J.M., 1991. "The Margin of Appropriation and an Extension of the First Theorem of Welfare Economics," Papers 388, California Davis - Institute of Governmental Affairs.
    2. Sahm, Marco, 2006. "Essays in Public Economic Theory," Munich Dissertations in Economics 5633, University of Munich, Department of Economics.
    3. Joseph Ostroy & Uzi Segal, 2012. "No externalities: a characterization of efficiency and incentive compatibility with public goods," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 39(4), pages 697-719, October.
    4. Louis Makowski & Joseph M. Ostroy, 1992. "General Equilibrium and Market Socialism: Clarifying the Logic of Competitive Markets," UCLA Economics Working Papers 672, UCLA Department of Economics.
    5. Makowski, Louis & Ostroy, Joseph M. & Segal, Uzi, 1999. "Efficient Incentive Compatible Economies Are Perfectly Competitive," Journal of Economic Theory, Elsevier, vol. 85(2), pages 169-225, April.
    6. Lahkar, Ratul & Mukherjee, Saptarshi, 2020. "Dominant strategy implementation in a large population public goods game," Economics Letters, Elsevier, vol. 197(C).
    7. Gretsky, Neil E. & Ostroy, Joseph M. & Zame, William R., 1999. "Perfect Competition in the Continuous Assignment Model," Journal of Economic Theory, Elsevier, vol. 88(1), pages 60-118, September.
    8. Joseph M. Ostroy & Louis Makowski, 2001. "Perfect Competition and the Creativity of the Market," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 479-535, June.
    9. You, Jung S., 2015. "Optimal VCG mechanisms to assign multiple bads," Games and Economic Behavior, Elsevier, vol. 92(C), pages 166-190.

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