Learning and incentive‐Compatible Mechanisms for Public Goods Provision: An Experimental Study
- 1 June 1998
- journal article
- Published by University of Chicago Press in Journal of Political Economy
- Vol. 106 (3) , 633-662
- https://doi.org/10.1086/250024
Abstract
This is the first systematic experimental study of the comparative performance of two incentive compatible mechanisms for public goods provision: the Basic Quadratic mechanism by Groves and Ledyard and the Paired-Difference mechanism by Walker. Our experiments demonstrate that the performance of the Basic Quadratic mechanism under a high punishment parameter is far better than the same mechanism under a low punishment parameter, which, in turn, is better than the Paired-Difference mechanism. We ...Keywords
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