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Question: Consider the case of three individuals, Soren, Rosie and Edie, and two public projects F and G ta…
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Show transcribed image text Consider the case of three individuals, Soren, Rosie and Edie, and two public projects F and G table below gives the benefit derived by each person from each project. What project would be undertaken if the pivotal mechanism were employed and individuals reported their benefits truthfully? Calculate surtax for each individual. Show that none of the three individuals has an incentive to misrepresent his or her benefit in the setting. What does it mean to say that truthful revelation of preference is a dominant strategy in the case? What is the size of the government budget surplus associated with your answer?

Consider the case of three individuals, Soren, Rosie and Edie, and two public projects F and G table below gives the benefit derived by each person from each project. What project would be undertaken if the pivotal mechanism were employed and individuals reported their benefits truthfully? Calculate surtax for each individual. Show that none of the three individuals has an incentive to misrepresent his or her benefit in the setting. What does it mean to say that truthful revelation of preference is a dominant strategy in the case? What is the size of the government budget surplus associated with your answer?

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