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On Sharing the Benefits of Communication

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  • Athanasiou, Efthymios
  • Dey, Santanu
  • Valletta, Giacomo

Abstract

We put forward a model of private goods with externalities. Agents derive benefit from communicating with each other. In order to communicate they need to have a language in common. Learning languages is costly. In this setting no individually rational and feasible Groves mechanism exists. We characterize the best-in-class feasible Groves mechanism and the best-in-class individually rational Groves mechanism.

Suggested Citation

  • Athanasiou, Efthymios & Dey, Santanu & Valletta, Giacomo, 2012. "On Sharing the Benefits of Communication," Climate Change and Sustainable Development 128709, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemcl:128709
    DOI: 10.22004/ag.econ.128709
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    Keywords

    Political Economy;

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