Partial equilibrium mechanism and inter-sectoral coordination: An experiment

Arbeitspapier

This study experimentally evaluates the performance of partial equilibrium mechanisms when different sectors run their mechanisms separately, despite the existence of complementarity between them. In our simple laboratory experiment setting that includes two sectors, each sector runs the top-trading-cycle mechanism. There is a Pareto-dominant equilibrium, but it requires coordination across sectors. Our results show that coordination failure occurs more frequently when there is asymmetry between the two sectors compared with the one-sector benchmark, even without inter-sectoral complementarity. When mechanisms are run sequentially across the two sectors, such failure is substantially reduced, compared with when they are run simultaneously.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ISER Discussion Paper ; No. 1138

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Design of Experiments: Laboratory, Group Behavior ; Social Choice; Clubs; Committees; Associations ; Asymmetric and Private Information; Mechanism Design
• Thema: Partial equilibrium ; inter-sectoral coordination ; top-trading-cycle mechanism ; laboratory experiment

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Hanaki, Nobuyuki ; Hayashi, Takashi ; Lombardi, Michele ; Ogawa, Kazuhito
• Ereignis: Veröffentlichung
• (wer): Osaka University, Institute of Social and Economic Research (ISER)
• (wo): Osaka
• (wann): 2021

Weitere Informationen

• Handle: http://hdl.handle.net/10419/248598
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ