Design and Analysis of Resource Allocation Mechanisms : Theory and Experiment

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We investigated performance and implementability of mechanisms to attain efficient and equitable resource allocations in some different economic models. As for the pure exchange economy model with multiple equilibria, theory predicts that an inequitable equilibrium is attained but our experiment showed that the data converged to the fair equilibrium. For the monetary economy model, the observations of our experiment were almost the same as theoretical prediction. About the oligopoly model, we observed that the experimental data were not predictions by noncooperative equilibrium but close to theoretical outcomes from cooperative solutions. About the empirical studies on environmental problems of China, we utilized plant-level survey data, and observed that market competition facilitated firms aware of sustainability.