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Achieving the first best in sequencing problems

Author

Listed:
  • Manipushpak Mitra

    (Department of Economics, University of Bonn, Adenauerallee 24-26, 53113 Bonn, Germany)

Abstract

In a sequencing problem with linear time cost, Suijs (1996) proved that it is possible to achieve first best. By first best we mean that one can find mechanisms that satisfy efficiency of decision, dominant strategy incentive compatibility and budget balancedness. In this paper we show that among a more general and natural class of sequencing problems, sequencing problems with linear cost is the only class for which first best can be achieved.

Suggested Citation

  • Manipushpak Mitra, 2002. "Achieving the first best in sequencing problems," Review of Economic Design, Springer;Society for Economic Design, vol. 7(1), pages 75-91.
    • Handle: RePEc:spr:reecde:v:7:y:2002:i:1:p:75-91
    Note: Received: 2 December 1999/Accepted: 9 May 2001
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    Keywords

    Sequencing problems; dominant strategy; incentive compatibility; efficiency; budget balancedness;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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