The uniqueness of dynamic groves mechanisms on restricted domains*

Kiho Yoon

doi:10.22841/kerdoi.2021.37.2.003

The uniqueness of dynamic groves mechanisms on restricted domains*

Kiho Yoon

Department of Economics

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

Abstract

This paper examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms when the domain of valuations is restricted. Our approach is to appropriately define the total valuation function, which is the expected discounted sum of each period’s valuation function from the allocation and thus a dynamic counterpart of the static valuation function, and then to port the results for static Groves mechanisms to the dynamic setting.

Original language	English
Pages (from-to)	263-285
Number of pages	23
Journal	Korean Economic Review
Volume	37
Issue number	2
DOIs	https://doi.org/10.22841/kerdoi.2021.37.2.003
Publication status	Published - 2021

Keywords

Dynamic mechanism design
Ex-post incentive compatibility
Groves mechanism
Outcome efficiency

ASJC Scopus subject areas

Economics, Econometrics and Finance(all)

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10.22841/kerdoi.2021.37.2.003

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title = "The uniqueness of dynamic groves mechanisms on restricted domains*",

abstract = "This paper examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms when the domain of valuations is restricted. Our approach is to appropriately define the total valuation function, which is the expected discounted sum of each period{\textquoteright}s valuation function from the allocation and thus a dynamic counterpart of the static valuation function, and then to port the results for static Groves mechanisms to the dynamic setting.",

keywords = "Dynamic mechanism design, Ex-post incentive compatibility, Groves mechanism, Outcome efficiency",

author = "Kiho Yoon",

note = "Funding Information: * I thank the referees for helpful comments and suggestions. I also thank Ruggiero Cavallo for clarifying the main contribution of the paper. This work was supported by a Korea University Grant (K2108861). ** Professor, Department of Economics, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul, Korea 02841, E-mail: kiho@korea.ac.kr Publisher Copyright: {\textcopyright} 2021, Korean Economic Association. All rights reserved.",

year = "2021",

doi = "10.22841/kerdoi.2021.37.2.003",

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volume = "37",

pages = "263--285",

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AU - Yoon, Kiho

N1 - Funding Information: * I thank the referees for helpful comments and suggestions. I also thank Ruggiero Cavallo for clarifying the main contribution of the paper. This work was supported by a Korea University Grant (K2108861). ** Professor, Department of Economics, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul, Korea 02841, E-mail: kiho@korea.ac.kr Publisher Copyright: © 2021, Korean Economic Association. All rights reserved.

PY - 2021

Y1 - 2021

N2 - This paper examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms when the domain of valuations is restricted. Our approach is to appropriately define the total valuation function, which is the expected discounted sum of each period’s valuation function from the allocation and thus a dynamic counterpart of the static valuation function, and then to port the results for static Groves mechanisms to the dynamic setting.

AB - This paper examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms when the domain of valuations is restricted. Our approach is to appropriately define the total valuation function, which is the expected discounted sum of each period’s valuation function from the allocation and thus a dynamic counterpart of the static valuation function, and then to port the results for static Groves mechanisms to the dynamic setting.

KW - Dynamic mechanism design

KW - Ex-post incentive compatibility

KW - Groves mechanism

KW - Outcome efficiency

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DO - 10.22841/kerdoi.2021.37.2.003

M3 - Article

AN - SCOPUS:85108818105

SN - 0254-3737

VL - 37

SP - 263

EP - 285

JO - Korean Economic Review

JF - Korean Economic Review

IS - 2

ER -

The uniqueness of dynamic groves mechanisms on restricted domains*

Abstract

Keywords

ASJC Scopus subject areas

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