On Sharing the Benefits of Communication
Efthymios Athanasiou (),
Santanu Dey and
Giacomo Valletta ()
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Santanu Dey: ISYE, Georgia Tech
No 2012.41, Working Papers from Fondazione Eni Enrico Mattei
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: Groves Mechanisms; Externality; Budget Surplus or Deficit; Pareto Undominated Mechanisms (search for similar items in EconPapers)
JEL-codes: D70 D62 C60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cta, nep-gth and nep-mic
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Working Paper: On sharing the benefits of communication (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2012.41
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