| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5071993 | Games and Economic Behavior | 2012 | 16 Pages |
Abstract
⺠A comparison of three mechanisms whose Nash equilibria are Lindahl allocations. ⺠All three (Chen, Kim, Walker) are therefore Pareto efficient when in equilibrium. ⺠Chen and Kim converge but remain out of equilibrium; Walker fails to converge. ⺠The Chen mechanism exhibits very poor welfare properties when out of equilibrium. ⺠The Kim mechanism exhibits the best out-of-equilibrium welfare properties.
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Economics and Econometrics
Authors
Matthew Van Essen, Natalia Lazzati, Mark Walker,