کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
966926 | 931122 | 2010 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
A characterization of equilibria in the Groves-Ledyard mechanism
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: A characterization of equilibria in the Groves-Ledyard mechanism A characterization of equilibria in the Groves-Ledyard mechanism](/preview/png/966926.png)
چکیده انگلیسی
In this paper, we characterize all interior and boundary equilibria of the Groves-Ledyard mechanism for a large class of economies and determine their stability properties. We show that the mechanism admits three types of equilibria: a symmetric, efficient, stable interior equilibrium, a large set of asymmetric, efficient, unstable, interior equilibria, and a large set of asymmetric, inefficient, stable boundary equilibria. We further show that asymmetric equilibria fail to exist for large values of the punishment parameter or if the message space is bounded sufficiently. The boundary equilibria previously had not been located nor had the instability of the asymmetric equilibria been known. Interestingly, the stability of the symmetric equilibrium rests on two dynamics that individually produce instability.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 46, Issue 6, 20 November 2010, Pages 1229-1242
Journal: Journal of Mathematical Economics - Volume 46, Issue 6, 20 November 2010, Pages 1229-1242
نویسندگان
Scott E. Page, Troy Tassier,