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Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
Bonn Econ Discussion Papers No. 20/2001
Verlag: 
University of Bonn, Bonn Graduate School of Economics (BGSE), Bonn
Zusammenfassung: 
In this paper we analyze sequencing situations under incomplete information where agents have interdependent costs. We first argue why Vickrey-Clarke-Groves (or VCG) mechanism fails to implement a simple sequencing problem in dominant strategies. Given this impossibility, we try to implement simple sequencing problems in ex-post equilibrium. We show that a simple sequencing problem is implementable if and only if the mechanism is a `generalized VCG mechanism'. We then show that for implementable n agent simple sequencing problems, with polynomial cost function of order (n-2) or less, one can achieve first best implementability. Moreover, for the class of simple sequencing problems with ``sufficiently well behaved'' cost function, this is the only class of first best implementable simple sequencing problems.
Schlagwörter: 
Simple Sequencing Problems
Ex-post Equilibrium
First Best Implementability
JEL: 
C44
C72
C78
D82
Dokumentart: 
Working Paper

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