Price & Choose

Federico Echenique and Mat\'ias N\'u\~nez
Authors registered in the RePEc Author Service: Matias Nuñez

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Abstract: We describe a two-stage mechanism that fully implements the set of efficient outcomes in two-agent environments with quasi-linear utilities. The mechanism asks one agent to set prices for each outcome, and the other agent to make a choice, paying the corresponding price: Price \& Choose. We extend our implementation result in three main directions: an arbitrary number of players, non-quasi linear utilities, and robustness to max-min behavior. Finally, we discuss how to reduce the payoff inequality between players while still achieving efficiency.

Date: 2022-12, Revised 2023-04
New Economics Papers: this item is included in nep-des, nep-gth, nep-mic and nep-upt
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Working Paper: Price & Choose (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2212.05650

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