• Medientyp: E-Artikel
  • Titel: Mechanism design with financially constrained agents and costly verification
  • Beteiligte: Li, Yunan [Verfasser:in]
  • Erschienen: New Haven, CT: The Econometric Society, 2021
  • Sprache: Englisch
  • DOI: https://doi.org/10.3982/TE3907
  • ISSN: 1555-7561
  • Schlagwörter: D82 ; budget constraints ; Mechanism design ; costly verification ; H42 ; efficiency ; D61 ; D45
  • Entstehung:
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  • Beschreibung: A principal distributes an indivisible good to budget-constrained agents when both valuation and budget are agents' private information. The principal can verify an agent's budget at a cost. The welfare-maximizing mechanism can be implemented via a two-stage scheme. First, agents report their budgets, receive cash transfers, and decide whether to enter a lottery over the good. Second, recipients of the good can sell it on a resale market but must pay a sales tax. Low-budget agents receive a higher cash transfer, pay a lower price to enter the lottery, and face a higher sales tax. They are also randomly inspected.
  • Zugangsstatus: Freier Zugang
  • Rechte-/Nutzungshinweise: Namensnennung - Nicht kommerziell (CC BY-NC)