Toward general impossibility theorems in pure exchange economies

Miki Kato, Shinji Ohseto

研究成果: Article査読

17 被引用数 (Scopus)

抄録

We study the possibility of strategy-proof and efficient mechanisms in pure exchange economies. In his remarkable paper, Zhou (1991) establishes an elegant impossibility result: there is no strategy-proof, efficient, and non-dictatorial mechanism in the two-agent case. He conjectures that there is no strategy-proof, efficient, and "non-inversely-dictatorial" mechanism in the case of three or more agents. However, we discover some counterexamples to his conjecture in the case of four or more agents. We present a new interesting open question: Is there any strategy-proof, efficient, and "non-alternately-dictatorial" mechanism?

本文言語English
ページ(範囲)659-664
ページ数6
ジャーナルSocial Choice and Welfare
19
3
DOI
出版ステータスPublished - 2002 7
外部発表はい

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics

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