Home > Research literature > Working papers > Efficient and stable collective choices under crowding preferences |
Imprint: | [S.l.] : Centre de Referencia en Economia Analítica, 2004 |
Description: | 29 p. |
Abstract: | We consider a set of agents who have to choose one alternative among a finite set of social alternatives. A final allocation is a pair given by the selected alternative and the group of its users. Agents have crowding preferences over allocations: between any pair of allocations with the same alternative, they prefer the allocation with the largest number of users. We require that a decision be efficient and stable (which guarantees free participation in the group of users and free exit from it). We propose a two-stage sequential mechanism whose unique subgame perfect equilibrium outcome is an efficient and stable allocation which also satisfies a maximal participation property. The social choice function implemented by the proposed mechanism is also anonymous and group stable. |
Rights: | Tots els drets reservats. |
Language: | Anglès |
Series: | Barcelona economics working papers series; 148 |
Document: | Working paper |
Subject: | Béns públics ; Public goods ; Crowding preferences ; Subgame perfect implementation |
29 p, 310.9 KB |