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A gibbad-satterthwaite theorem for public good economies

Diego Moreno () and María José Moscoso

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: We study the properties of mechanisms for deciding upon the provision of public goods when the feasible set is exogenously given (by financial and/or technological constraints), and individuals' preferences are represented by continuous, increasing and concave utility functions, and we establish a result analog to the Gibbard-Satterthwaite Theorem: strategy-proof mechanisms are dictatorial. Further, efficient and strategy-proof mechanisms are strongly dictatorial (i.e., maximize the dictator's welfare on the entire feasible set.)

Date: 2001-01
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