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    Continuous selections from the Pareto correspondence and non-manipulability in exchange economies

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    CSP-JME-3rd.pdf (287.3Kb)
    Issue Date
    2004-08
    Author
    Ju, Biung-Ghi
    Publisher
    ELSEVIER SCIENCE SA
    Format
    294203 bytes
    Type
    Article
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    Abstract
    In n-agent exchange economies, we show that all efficient and continuous rules are "diagonally dictatorial" over the restricted domain of linear preferences and, in the 2-good case, over the domain of homothetic preferences. The diagonal dictator receives the entire endowment whenever all agents have an identical preference. We show that (fully) dictatorial rules are the only rules satisfying, in addition, veto-proofness, the requirement that if truth-telling ever leads to the worst outcome for an agent, he should not be able to escape it, by rnisrepresenting his preference. The same conclusion holds replacing veto-proofness with stronger notions of non-manipulability, veto-proofness* (no one can escape from the worst outcome or switch to the best outcome), weak strategy-proofness (no one can increase his bundle), and strategy-proofness. We extend these results to any larger domain imposing non-bossiness (no one can affect others' bundles without affecting his own). (C) 2003 Elsevier B.V. All rights reserved.
    URI
    http://hdl.handle.net/1808/270

    http://www.sciencedirect.com/science/journal/03044068
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    • Economics Scholarly Works [183]
    Citation
    Ju, BG.Continuous selections from the Pareto correspondence and non-manipulability in exchange economies. JOURNAL OF MATHEMATICAL ECONOMICS. August 2004.40(5: 573-593.

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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