Welfare maximization entices participation

Florian Brandl, Felix Brandt, Johannes Hofbauer

Publikation: Beitrag in FachzeitschriftArtikelBegutachtung

8 Zitate (Scopus)

Abstract

We consider randomized public good mechanisms with optional participation. Preferences over lotteries are modeled using skew-symmetric bilinear (SSB) utility functions, a generalization of classic von Neumann–Morgenstern utility functions. We show that every welfare-maximizing mechanism entices participation and that the converse holds under additional assumptions. As a corollary, we obtain a characterization of an attractive randomized voting rule that satisfies Condorcet-consistency and entices participation. This stands in contrast to Moulin's well-known no-show paradox (Moulin, 1988), which shows that no deterministic voting rule can satisfy both properties simultaneously.

OriginalspracheEnglisch
Seiten (von - bis)308-314
Seitenumfang7
FachzeitschriftGames and Economic Behavior
Jahrgang114
DOIs
PublikationsstatusVeröffentlicht - März 2019

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