Welfare asymptotics of the pivotal mechanism for excludable public goods.
type: Item
instance of: scholarly article
title: Welfare asymptotics of the pivotal mechanism for excludable public goods.
zbMATH Open document ID: 1038.91031
DOI: 10.1016/S0165-4896(01)00092-0
author: Indranil K. Ghosh
author: Tae Kun Seo
author: R. Deb
published in: Mathematical Social Sciences
publication date: 2003-04-02T00:00:00Z
review text: The paper describes the pivotal mechanism when the public goods being considered is excludable. A general characterization of the pivotal mechanism for excludable public goods has been provided. For authors purpose, a closed form solution rather than a general characterization needed for welfare loss computations. To analyze the welfare loss from the mechanism when it is applied to an excludable public good, it is shown, that it is equivalent to the standard axiomatic description of the known mechanism. Different computational techniques are used to show that the welfare loss from pivotal mechanism in the case of an excludable public good converges to zero in a very strong sense.
Mathematics Subject Classification ID: 91B18
zbMATH DE Number: 1891782
zbMATH Keywords: public goods
zbMATH Keywords: pivotal mechanism
zbMATH Keywords: welfare loss
MaRDI profile type: Publication
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description: scientific article; zbMATH DE number 1891782