Document Type
Discussion Paper
Publication Date
5-1-2005
CFDP Number
1511R
CFDP Revision Date
2006-04-01
CFDP Pages
51
Abstract
This paper shows that linking a sufficiently large number of independent but unrelated social decisions can achieve approximate efficiency. We provide regularity conditions under which a Groves mechanism amended with a veto game implements an efficient outcome with probability arbitrarily close to one, and satisfies interim participation, incentive and resource constraints.
Recommended Citation
Fang, Hanming and Norman, Peter, "Overcoming Participation Constraints" (2005). Cowles Foundation Discussion Papers. 1795.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1795