Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5071571 | Games and Economic Behavior | 2015 | 18 Pages |
Abstract
It is well known that efficient use of congestible resources can be achieved via marginal pricing; however, payments collected from the agents generate a budget surplus, which reduces social welfare. We show that an asymptotically first-best solution in the number of agents can be achieved by the appropriate redistribution of the budget surplus back to the agents.
Keywords
Related Topics
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Economics and Econometrics
Authors
Victor Naroditskiy, Richard Steinberg,