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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

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: 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)
Date: 2012-05
New Economics Papers: this item is included in nep-cta, nep-gth and nep-mic
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