کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5071692 | 1477073 | 2014 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Impossibility results for parametrized notions of efficiency and strategy-proofness in exchange economies
ترجمه فارسی عنوان
نتایج نامتجانس برای مفهوم پارامترهای کارایی و استحکام در اقتصاد مبادله
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
We study a standard model of exchange economies with individual endowments. It is well known that no rule is individually rational, efficient, and strategy-proof. In order to quantify the extent of this impossibility, we parametrize axioms on allocation rules. Given an axiom A, a parametrization of A is a continuum of axioms {δ-A}δâ[0,1] such that (i) δ-A is equivalent to A if and only if δ=1; (ii) δ-A is vacuous if and only if δ=0; and (iii) for each pair δ,δâ²â[0,1] with δ<δâ², δâ²-A implies δ-A. Thus, as δ decreases from 1 to 0, δ-A weakens monotonically, eventually to a vacuous requirement. We consider two parametrizations {δ-efficiency}δ â [0,1] and {δ-strategy-proofness}δ â [0,1], and investigate their compatibility with individual rationality for the class of two-agent economies defined on the linear preference domain. We show that (i) for each δâ(0,1], no rule is individually rational, δ-efficient, and strategy-proof; and (ii) for each δâ(0,1], no rule is individually rational, efficient, and δ-strategy-proof.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Games and Economic Behavior - Volume 86, July 2014, Pages 26-39
Journal: Games and Economic Behavior - Volume 86, July 2014, Pages 26-39
نویسندگان
Wonki Jo Cho,