Abstract:A mechanism guarantees a certain welfare level to its agents, if each of them can secure that level against unanimously adversarial others. How high can such a guarantee be, and what type of mechanism achieves it?
In the
n‐person probabilistic voting/bargaining model with
p deterministic outcomes a guarantee takes the form of a probability distribution over the ranks from 1 to
p. If
n ≥
p, the
uniform lottery is shown to be… Show more
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