Strategy-proofness versus efficiency in exchange economies: General domain properties and applications

@article{Ju2003StrategyproofnessVE,
  title={Strategy-proofness versus efficiency in exchange economies: General domain properties and applications},
  author={Biung-Ghi Ju},
  journal={Social Choice and Welfare},
  year={2003},
  volume={21},
  pages={73-93}
}
We identify general domain properties that induce the non-existence of efficient, strategy-proof, and non-dictatorial rules in the 2-agent exchange economy. Applying these properties, we establish impossibility results in several restricted domains; for example, the intertemporal exchange problem (without saving technology) with preferences represented by the discounted sum of a temporal utility function, the “risk sharing problem” with risk averse expected utility preferences, the CES… CONTINUE READING
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