Double implementation of the Lindahl equilibrium by a continuous mechanism |
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Authors: | Bezalel Peleg |
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Institution: | (1) Institute of Mathematical Economics, University of Bielefeld, P.O. Box 100131, 33501 Bielefeld, Germany |
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Abstract: | We consider a class of economies with public goods that have the following properties: (i) The preferences of the agents are
convex, interior, and strictly increasing. (ii) The technology for production of public goods is a closed convex cone that
satisfies free disposal and an additional mild assumption. No assumptions are made on continuity, completeness or transitivity
of preferences. We provide a continuous and feasible mechanism that implements the Lindahl equilibrium by Nash equilibria,
and has the following property: For every economy in our class every Nash equilibrium of the game induced by the mechanism
is a strong Nash equilibrium. |
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Keywords: | J41 |
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