The Korean Economic Review
The Uniqueness of Dynamic Groves Mechanisms on Restricted Domains
Kiho Yoon (Korea University)Year 2021Vol. 37No. 2
This paper examines necessary and sufficient conditions for the uniqueness of dynamic Groves mechanisms when the domain of valuations is restricted. Our approach is to appropriately define the total valuation function, which is the expected discounted sum of each period’s valuation function from the allocation and thus a dynamic counterpart of the static valuation function, and then to port the results for static Groves mechanisms to the dynamic setting.