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http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1684| Title: | Efficient and Stable Collective Choices under Gregarious Preferences |
| Keywords: | Public goods Gregarious Preferences Subgame Perfect Implementation |
| Description: | We consider collective choice problems where a set of agents have to choose an alternative from a finite set and agents may or may not become users of the chosen alternative. An allocation is a pair given by the chosen alternative and the set of its users. Agents have gregarious preferences over allocations: given an allocation, they prefer that the set of users becomes larger. We require that the final allocation be efficient and stable (no agent can be forced to be a user and no agent who wants to be a user can be excluded). We propose a two-stage sequential mechanism whose unique subgame perfect equilibrium outcome is an efficient and stable allocation which also satisfies a maximal participation property. The work of Massó is partially supported by the Spanish Ministry of Education and Science through grant SEJ2005-01481/ECON and FEDER and through project CONSOLIDER-INGENIO 2010 (CDS2006-00016), and by the Generalitat de Catalunya through grant SGR2005-00454 and through the Barcelona Economics Program (XREA). The work of Nicolò is partially supported by the Italian Ministry of University and Research through grant 2005137858. |
| URI: | http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1684 |
| Other Identifiers: | http://hdl.handle.net/10261/1684 |
| Appears in Collections: | Digital Csic |
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