Stability of the Groves and Ledyard Mechanism

E.J. Bos

    Research output: Book/ReportReportAcademic

    Abstract

    This paper investigates the stability properties of the game defined by the Groves and Ledyard mechanism. It is shown that when we no longer assume the static Nash-Cournot equilibrium as defined by Groves and Ledyard, but instead assume a dynamic version, the stability of the model is put at serious risk. Although in the present paper the dynamic modelling of the behavioural assumptions and the stability analysis has been applied to the Groves-Ledyard mechanism, the methodology is applicable to comparable models as well
    Original languageEnglish
    Place of PublicationAmsterdam
    PublisherTinbergen Institute
    Publication statusPublished - 1998

    Publication series

    NameTinbergen Institute Discussion Papers
    PublisherTinbergen Institute
    No.98-031/3

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