Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/59720
Authors: 
Athanasiou, Efthymios
Dey, Santanu
Valletta, Giacomo
Year of Publication: 
2012
Series/Report no.: 
Nota di lavoro, Fondazione Eni Enrico Mattei: Climate Change and Sustainable Development 41.2012
Abstract: 
We put forward a model of private goods with externalities. Agents derive benefit from communicating with each other. In order to communicate they need to have a language in common. Learning languages is costly. In this setting no individually rational and feasible Groves mechanism exists. We characterize the best-in-class feasible Groves mechanism and the best-in-class individually rational Groves mechanism.
Subjects: 
Groves Mechanisms
Externality
Budget Surplus or Deficit
Pareto Undominated
JEL: 
D70
D62
C60
Document Type: 
Working Paper

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