FBPO - What does FBPO stand for? The Free Dictionary
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This simple property is crucial for the implementation of FBPO
as competitive equilibria.
The first observation we make in Figure 3 is that a whole segment of the FBPO curve lies inside the IC set of the Second Best planning problem.
Second, we see that the First Best Pareto optima in the segment of the set FBPO that lies above that IC set are not incentive compatible because they violate the IC constraint of the L-type, (14).