The Land Acquisition Problem: a Mechanism Design Approach
نویسنده
چکیده
The land acquisition problem is an exchange problem with one buyer and multiple sellers with the buyer having demand for more than one units and each seller holding one unit of a homogeneous good. We show that under incomplete information, no mechanism designed for the problem can be fully satisfactory. Then we characterize different “second best” mechanisms to address this problem. ∗My supervisor Professor Arunava Sen encouraged me to to look into the problem of land acquisition. I owe both him and Professor Debasis Mishra for their invaluable advice, inspiration and patience. Thanks also to my colleagues Anup Pramanik, Dushyant and Mridu Prabal Goswami for their valuable suggestions. Errors and omissions are only mine. †Indian Statistical Institute and TERI University, New Delhi; E-mail:[email protected]
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