Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5071685 | Games and Economic Behavior | 2015 | 21 Pages |
Abstract
We consider a mechanism design problem in economies with increasing returns. We construct a new class of rules, called w-hybrid rules, and characterize them by strategy-proofness, anonymity, envy-freeness, consumer sovereignty, and non-bossiness. We show that w-hybrid rules improve the supremal welfare loss compared with the average cost pricing rule (Moulin, 1999 and Moulin and Shenker, 2001).
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Kazuhiko Hashimoto, Hiroki Saitoh,