Construct · 1 fields · 1 citations

Groves-Ledyard mechanism: a standalone construct

One name. One construct. A landmark on the map.

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Groves-Ledyardmechanism1 CONSTRUCTGroves-Ledyard mechanismGROVES · MARKET DESIGN

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Market design

a public goods mechanism with quadratic taxes whose Nash equilibria give efficient provision, offered as a solution to the free-rider problem.

In market design, Groves-Ledyard mechanism refers to a public goods mechanism with quadratic taxes whose Nash equilibria give efficient provision, offered as a solution to the free-rider problem. This meaning comes from Groves (1977) in Econometrica.[1]

Unit
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Nearby constructs

collective action4 names · 5 citationsjangle · the free-rider problem, four verdictsmarket design1 fields · 1 citationsanchor · a standalone constructmarket3 fields · 5 citationsjingle · one word, three constructs

References

  1. Groves, T., & Ledyard, J. (1977). Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem. Econometrica, 45(4), 783. https://doi.org/10.2307/1912672

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