Article ID Journal Published Year Pages File Type
5062555 Economics Letters 2007 5 Pages PDF
Abstract
For mechanism design with independent values, we identify a subclass of Vickrey-Clarke-Groves (VCG) mechanisms that induce efficient ex ante investments even with externalities. The Vickrey second price auction does not belong to this class.
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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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VCG mechanisms and efficient ex ante investments with externalities
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