On Sharing the Benefits of Communication

Efthymios Athanasiou, Santanu Dey and Giacomo Valletta

No 128709, Climate Change and Sustainable Development from Fondazione Eni Enrico Mattei (FEEM)

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.

Keywords: Political; Economy (search for similar items in EconPapers)
Pages: 37
Date: 2012-06
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Persistent link: https://EconPapers.repec.org/RePEc:ags:feemcl:128709

DOI: 10.22004/ag.econ.128709

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