Conferences at Department of Economics, University of Toronto, Canadian Economic Theory Conference 2013

Font Size:  Small  Medium  Large

Optimal Mechanism Design without Money

Alex Gershkov, Benny Moldovanu, Xianwen Shi*

Last modified: 2013-04-15

Abstract


We consider the standard mechanism design environment with linear utility but without monetary transfers. We establish an equivalence between deterministic, dominant strategy incentive compatible mechanisms and generalized median voter schemes, and we use this equivalence to characterize the constrained-efficient optimal mechanism for an utilitarian planner.

Full Text: PDF