Domain expansion of the pivotal mechanism

We propose a mechanism for the provision of public goods called the extended pivotal mechanism, which works on wider environments than quasi-linear ones. This mechanism is shown to be a natural extension of the pivotal (Clarke) mechanism because the restriction of the mechanism to the quasi-linear d...

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Bibliographic Details
Published in:Social choice and welfare 2010-03, Vol.34 (3), p.455-470
Main Authors: Hashimoto, Kazuhiko, Saitoh, Hiroki
Format: Article
Language:English
Subjects:
Auctions
Budget allocation
Dominant strategy
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Efficiency
Efficiency decisions
Efficient strategies
Equity
Game Theory
International Political Economy
Mathematical economics
Preferences
Property
Public economics
Public Finance
Public good
Public Goods
Public projects
Public property
Social and Behav. Sciences
Social Policy
Studies
Welfare
Willingness to pay
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Summary:We propose a mechanism for the provision of public goods called the extended pivotal mechanism, which works on wider environments than quasi-linear ones. This mechanism is shown to be a natural extension of the pivotal (Clarke) mechanism because the restriction of the mechanism to the quasi-linear domain coincides with the pivotal mechanism, and because it is the only mechanism satisfying strategy-proofness, an efficient condition (partial efficiency), and an equity condition (the welfare lower bound property), which characterize the pivotal mechanism.
ISSN:0176-1714
1432-217X
DOI:10.1007/s00355-009-0411-7