Maximal surplus from the pivotal mechanism: a closed form solution |
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| Authors: | Rajat Deb Tae Kun Seo |
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| Institution: | (1) Department of Economics, Southern Methodist University, Dallas, Tx 75275, USA (e-mail: rdeb@post.cis.smu.edu), US |
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| Abstract: | The paper derives a closed form solution for the maximal surplus generated by the pivotal mechanism in the case of a binary
public good. The formula may be used to compare the pivotal mechanism to other mechanisms. An illustration is provided to
demonstrate how such a comparison may be made.
Received: 30 April 1997 / Accepted: 16 June 1998 |
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| Keywords: | JEL classification: H41 C72 D78 : Pivotal mechanism pivotal agent maximal budget surplus public good |
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