The limits of ex post implementation without transfers
Copyright policy )The limits of ex post implementation without transfers
We study ex post implementation in collective decision problems where monetary transfers cannot be used. We find that deterministic ex post implementation is impossible if the underlying environment is neither almost an environment with private values nor almost one with common values. Thus, desirable properties of ex post implementation such as informational robustness become difficult to achieve when preference interdependence and preference heterogeneity are both present in the environment.
- Hong Kong Polytechnic University China (People's Republic of)
- University of Bonn Germany
- California Institute of Technology United States
- Università Luigi Bocconi Italy
- Hong Kong University of Science and Technology (香港科技大學) China (People's Republic of)
Collective decision-making, EX POST IMPLEMENTATION, INTERDEPENDENT VALUES, NON-TRANSFERABLE UTILITY, MECHANISM DESIGN, COLLECTIVE DECISION-MAKING, INFORMATIONAL ROBUSTNESS, 330, ddc:330, Econometrics and Finance, Mechanism design, nontransferable utility, Social choice, Interdependent values, Ex post implementation, Mechanism design theory, mechanism design, General Economics, interdependent values, Decision theory, collective decision-making, D82, D71, ex post implementation, Informational robustness, Non-transferable utility, informational robustness
Collective decision-making, EX POST IMPLEMENTATION, INTERDEPENDENT VALUES, NON-TRANSFERABLE UTILITY, MECHANISM DESIGN, COLLECTIVE DECISION-MAKING, INFORMATIONAL ROBUSTNESS, 330, ddc:330, Econometrics and Finance, Mechanism design, nontransferable utility, Social choice, Interdependent values, Ex post implementation, Mechanism design theory, mechanism design, General Economics, interdependent values, Decision theory, collective decision-making, D82, D71, ex post implementation, Informational robustness, Non-transferable utility, informational robustness
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