Efficient and strategy-proof allocation mechanisms in many-agent economies

Takeshi Momi

Social Choice and Welfare, 2020, vol. 55, issue 2, No 7, 325-367

Abstract: Abstract In this paper, we show that in pure exchange economies, any Pareto-efficient and strategy-proof allocation mechanism is alternately dictatorial; that is, it always allocates the total endowment to a single agent even if the receivers vary. While many studies have shown that such an allocation mechanism is dictatorial in two-agent economies, it has long remained an open question whether such a characterization can be obtained in many-agent economies.

Date: 2020
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DOI: 10.1007/s00355-020-01248-0

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