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This paper reports on the design of a novel two-stage mechanism, based on strictly proper scoring rules, that allows a centre to acquire a costly forecast of a future event (such as a meteorological phenomenon) or a probabilistic estimate of a specific parameter (such as the quality of an...
Persistent link: https://www.econbiz.de/10011109324
This paper reports on the design of a novel two-stage mechanism, based on strictly proper scoring rules, that motivates selfish rational agents to make a costly probabilistic estimate or forecast of a specified precision and report it truthfully to a centre. Our mechanism is applied in a setting...
Persistent link: https://www.econbiz.de/10011112666
This paper reports on the design of a novel two-stage mechanism, based on strictly proper scoring rules, that allows a centre to acquire a costly probabilistic estimate of some unknown parameter, by eliciting and fusing estimates from multiple suppliers. Each of these suppliers is capable of...
Persistent link: https://www.econbiz.de/10011258050
received by the winners of the auctions are equal to the payment issued by the standard second score auction. …
Persistent link: https://www.econbiz.de/10011259763
This article addresses two important issues in crowd-sourcing: ex ante uncertainty about the quality and cost of different workers and strategic behaviour. We present a novel multi-dimensional auction that incentivises the workers to make partial enquiry into the task and to honestly report...
Persistent link: https://www.econbiz.de/10011110295
Auction. In a procurement setting, the winner of the Hybrid auction by design receives payment at the most equal to the second …
Persistent link: https://www.econbiz.de/10011113285
This article addresses two important issues in crowd-sourcing: ex ante uncertainty about the quality and cost of different workers and strategic behaviour. We present a novel multi-dimensional auction that incentivises the workers to make partial enquiry into the task and to honestly report...
Persistent link: https://www.econbiz.de/10011113644