Inefficiency of Strategy-Proof Allocation Mechanisms in Pure Exchange Economies
In this paper I prove that in the standard model of 2 times n ( n > 2) pure exchange economies there is no allocation mechanism that is eﬀicient, non-inversely-dictatorial, and strategy-proof. This strengthens two previous results on this subject by Hurwicz and by Dasgupta, Hammond, and Maskin.
Zhou, Lin, "Inefficiency of Strategy-Proof Allocation Mechanisms in Pure Exchange Economies" (1990). Cowles Foundation Discussion Papers. 1197.