Multidimensional Bargains and the Desirability of Ex Post Inefficiency.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 1992
Volume: 5
Issue: 3
Pages: 205-16

Authors (2)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In multidimensional bargaining situations where individuals possess relevant private information, say about preferences, allocational efficiency is a central concern. Even if there is no squabbling over distribution--for example, if contingent commitments on allocations can be made before private information is secured--honest revelation comes only by sacrificing efficiency. Indeed, the incentive-compatible, second-best outcomes generally require that some allocations be off the contract curve (ex post inefficient). The potential for recontracting, by ruling out such inefficient allocations and the second-best equilibria they support, would hurt matters further. Copyright 1992 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:5:y:1992:i:3:p:205-16
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29