Download or read book On the Manipulability of Resource Allocation Mechanism Designed to Achieve Individually rational and Pareto optimal Outcomes written by William Thomson and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On the Manipulability of Resource Allocation Mechanisms Designed to Achieve Individuallyrational and Pareto optimal Outcomes written by William Thomson and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Resource Allocation Mechanisms written by Donald E. Campbell and published by Cambridge University Press. This book was released on 1987-04-24 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the theory of mechanism design, and a treatment of welfare economics.

Download or read book Discussion Paper written by and published by . This book was released on with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Unique Informationally Efficient Allocation Mechanism in Economies with Consumption Externalities written by Guoqiang Tian and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article investigates the informational requirements of resource allocation processes in pure exchange economies with consumption externalities. It is shown that the distributive Lindahl mechanism has a minimal informational size of the message space, and thus it is informationally the most efficient allocation process that is informationally decentralized and realizes Pareto-efficient allocations over the class of economies that include non-malevolent economies. Furthermore, it is shown that the distributive Lindahl mechanism is the unique informationally efficient decentralized mechanism that realizes Pareto-efficient and individually rational allocations over a certain class of nonmalevolent economies.

Download or read book Strategic and Normative Analysis of Resource Allocation in Networks written by Karol Szwagrzak and published by . This book was released on 2013 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This thesis considers the basic economic problem of allocating or reallocating a resource. Agents are equipped with "single-peaked preferences" (Sprumont, 1991) over their assignments. Applications of the analysis herein include the allocation of a commodity under disequilibrium prices, the allocation of workloads among a group of agents with different skill sets, and the allocation of organs for transplant. Chapter 1 establishes that every strategy-proof, Pareto-efficient, consistent, and resource-monotonic allocation rule is obtained by maximizing an additive concave function over the set of Pareto-efficient allocations. Chapters 2, 3, 4, 5, and 6 extend the class of rules identified in Chapter 1 to environments where agents differ in their ability to receive the resource. This is modeled using a network where an agent is connected to a resource only if she is qualified to receive it. In Chapter 2, agents are partitioned into resource suppliers and demanders. The rules introduced in Chapter 1 are Pareto-efficient and individually rational. Moreover, they are group strategy-proof and elicit a truthful report of each agent's connections in the network. Chapter 3 examines the following property: If an agent's preferences change, contracting the set of Pareto-efficient allocations, but the allocation originally recommended remains Pareto-efficient, then it is still chosen. It is a basic notion of social rationality akin to a central axiom in choice theory (Chernoff, 1954). This property, along with constrained envy-freeness (Foley, 1967) and Pareto-efficiency, characterizes the egalitarian rule of Bochet et al. (2013). Adding individual rationality, these properties also characterize the egalitarian rule of Bochet et al. (2012). These results extend to the "single-plateaued" (Moulin, 1984) preference domain where I also characterize the implications of Pareto-efficiency. Chapters 4 and 6 examine the "replacement principle" (Thomson, 1997; Moulin, 1987): A change in an agent's preferences affects all other agents in the same direction welfare-wise. Chapter 4 contains a characterization of the class of strategy-proof and Pareto-efficient rules satisfying a weak version of the principle. Chapter 6 establishes that the egalitarian rules mentioned above are, essentially, the only Pareto-efficient, and constrainedly envy-free rules satisfying my weak version of the principle. Chapter 5 examines the reallocation of a non-disposable resource. I assume a tentative initial allocation that may need to be updated to ensure the resource is fully allocated. I identify the only strategy-proof and efficient allocation rule satisfying a version of "fair net trades" (Schmeidler and Vind, 1972), the relevant fairness notion in economies with initial allocations"--Pages vi-vii.

Download or read book The vulnerability to manipulative behavior of resource allocation mechanisms designed to select equitable and efficient outcomes written by William Thomson and published by . This book was released on 1982 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Journal of Mathematical Economics written by and published by . This book was released on 1990 with total page 1096 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mathematical Reviews written by and published by . This book was released on 1986 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Information Incentives and Economic Mechanisms written by Theodore Groves and published by U of Minnesota Press. This book was released on 1987 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Printbegrænsninger: Der kan printes 10 sider ad gangen og max. 40 sider pr. session

Download or read book Welfare Economics and Social Choice Theory written by Allan M. Feldman and published by Springer Science & Business Media. This book was released on 2006-06-14 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the main topics of welfare economics — general equilibrium models of exchange and production, Pareto optimality, un certainty, externalities and public goods — and some of the major topics of social choice theory — compensation criteria, fairness, voting. Arrow's Theorem, and the theory of implementation. The underlying question is this: "Is a particular economic or voting mechanism good or bad for society?" Welfare economics is mainly about whether the market mechanism is good or bad; social choice is largely about whether voting mechanisms, or other more abstract mechanisms, can improve upon the results of the market. This second edition updates the material of the first, written by Allan Feldman. It incorporates new sections to existing first-edition chapters, and it includes several new ones. Chapters 4, 6, 11, 15 and 16 are new, added in this edition. The first edition of the book grew out of an undergraduate welfare economics course at Brown University. The book is intended for the undergraduate student who has some prior familiarity with microeconomics. However, the book is also useful for graduate students and professionals, economists and non-economists, who want an overview of welfare and social choice results unburdened by detail and mathematical complexity. Welfare economics and social choice both probably suffer from ex cessively technical treatments in professional journals and monographs.

Download or read book Models in Microeconomic Theory written by Martin J. Osborne and published by Open Book Publishers. This book was released on 2023-06-26 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.

Download or read book United States Political Science Documents written by and published by . This book was released on 1980 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Systems Collaboration and Integration written by Chin-Yin Huang and published by Springer Nature. This book was released on 2023-10-17 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a groundbreaking exploration of the historical and contemporary challenges in systems collaboration and integration. This exceptional book delves into engineering design, planning, control, and management, offering invaluable insights into the evolving nature of systems and networks. In an era defined by the ongoing cyber and digital transformation, coupled with artificial intelligence and machine learning, this book offers insights into the future of systems collaboration and integration. Over the past three decades, the PRISM Center and its affiliated PRISM Global Research Network (PGRN) have spearheaded pioneering theories, technologies, and applications in the realm of systems collaboration and integration. Their research, driven by the motto “Knowledge through information; Wisdom through collaboration,” has yielded remarkable advancements. Those achievements and papers presented and updated by the PGRN scholars in the 26th ICPR are included in this book.

Download or read book Designing Economic Mechanisms written by Leonid Hurwicz and published by Cambridge University Press. This book was released on 2006-05-22 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such institutions; markets are the most familiar ones. Lawmakers, administrators and officers of private companies create institutions in order to achieve desired goals. They seek to do so in ways that economize on the resources needed to operate the institutions, and that provide incentives that induce the required behaviors. This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism. The systematic design procedures are algorithms for designing informationally efficient mechanisms. Most of the book deals with these procedures of design. When there are finitely many environments to be dealt with, and there is a Nash-implementing mechanism, our algorithms can be used to make that mechanism into an informationally efficient one. Informationally efficient dominant strategy implementation is also studied.

Download or read book A Course in Networks and Markets written by Rafael Pass and published by MIT Press. This book was released on 2019-04-16 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: A graduate-level, mathematically rigorous introduction to strategic behavior in a networked world. This introductory graduate-level text uses tools from game theory and graph theory to examine the role of network structures and network effects in economic and information markets. The goal is for students to develop an intuitive and mathematically rigorous understanding of how strategic agents interact in a connected world. The text synthesizes some of the central results in the field while also simplifying their treatment to make them more accessible to nonexperts. Thus, students at the introductory level will gain an understanding of key ideas in the field that are usually only taught at the advanced graduate level. The book introduces basic concepts from game theory and graph theory as well as some fundamental algorithms for exploring graphs. These tools are then applied to analyze strategic interactions over social networks, to explore different types of markets and mechanisms for networks, and to study the role of beliefs and higher-level beliefs (beliefs about beliefs). Specific topics discussed include coordination and contagion on social networks, traffic networks, matchings and matching markets, exchange networks, auctions, voting, web search, models of belief and knowledge, and how beliefs affect auctions and markets. An appendix offers a “Primer on Probability.” Mathematically rigorous, the text assumes a level of mathematical maturity (comfort with definitions and proofs) in the reader.

Download or read book Models of Political Economy written by Hannu Nurmi and published by Routledge. This book was released on 2006-10-13 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models of Political Economy will introduce students to the basic methodology of political economics. It covers all core theories as well as new developments including: decision theory game theory mechanism design games of asymmetric information. Hannu Nurmi's text will prove to be invaluable to all students who wish to understand this increasingly technical field.