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|Title:||Subscription Mechanisms for Network Formation|
|Citation:||Journal of Economic Theory, 2003, 106, (2), pp.242-264|
|Abstract:||We analyze a model of network formation where the costs of link formation are publicly known but individual benefits are not known to the social planner. The objective is to design a simple mechanism ensuring efficiency, budget balance, and equity. We propose two mechanisms towards this end; the first ensures efficiency and budget balance but not equity. The second mechanism corrects the asymmetry in payoffs through a two-stage variant of the first mechanism.|
|Appears in Collections:||Published Articles, Dept. of Economics|
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