Price and Choose
提出一种名为“价格与选择”的序贯机制,通过轮流定价和最终选择实现准线性效用环境下的有效结果,并探讨了减少支付不平等、扩展至非准线性效用等情形。
We describe a sequential mechanism that fully implements the set of efficient outcomes in environments with quasi-linear utilities. The mechanism asks agents to take turns in defining prices for each outcome, with a final player choosing an outcome for all: Price and Choose. The choice triggers a sequence of payments from each agent to the preceding agent. We present several extensions. First, payoff inequalities may be reduced by endogenizing the order of play. Second, our results extend to a model without quasi-linear utility, to a setting with an outside option, robustness to max-min behavior, and caps on prices.