One dimensional mechanism design
Herve Moulin
Theoretical Economics, 2017, vol. 12, issue 2
Abstract:
We prove a general possibility result for collective decision problems where individual allocations are one-dimensional, preferences are single-peaked (strictly convex), and feasible allocation profiles cover a closed convex set. Special cases include the celebrated median voter theorem and the division of a non disposable commodity by the uniform rationing rule. We construct a canonical peak-only rule equalizing in the leximin sense individual gains from an arbitrary benchmark allocation: it is efficient, group-strategyproof, fair, and (for most problems) continuous. These properties leave room for many other rules, except for symmetric non disposable division problems.
Keywords: Single-peaked preferences; strategy-proofness; leximin ordering (search for similar items in EconPapers)
JEL-codes: D63 D71 D82 (search for similar items in EconPapers)
Date: 2017-05-30
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)
Downloads: (external link)
http://econtheory.org/ojs/index.php/te/article/viewFile/20170587/17929/536 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:the:publsh:2307
Access Statistics for this article
Theoretical Economics is currently edited by Federico Echenique, Mira Frick, Pablo Kurlat, Juuso Toikka, Rakesh Vohra
More articles in Theoretical Economics from Econometric Society
Bibliographic data for series maintained by Martin J. Osborne ().