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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, 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.
    2. 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.
    3. Lahkar, Ratul & Mukherjee, Saptarshi, 2020. "Dominant strategy implementation in a large population public goods game," Economics Letters, Elsevier, vol. 197(C).
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. Sahm, Marco, 2006. "Essays in Public Economic Theory," Munich Dissertations in Economics 5633, University of Munich, Department of Economics.
    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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