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Allocative and Informational Externalities in Auctions and Related Mechanisms
Jehiel, Philippe; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2006
We study the effects of allocative and informational externalities in (multi-object) auctions and related mechanisms …. Such externalities naturally arise in models that embed auctions in larger economic contexts. In particular, they appear … driving force behind many new, specific phenomena with allocative externalities: even in complete information settings …
Persistent link: https://www.econbiz.de/10005792072
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Optimal Seedings in Elimination Tournaments
Groh, Christian; Moldovanu, Benny; Sela, Aner; Sunde, Uwe - 2003
We study an elimination tournament with heterogenous contestants whose ability is common-knowledge. Each pair-wise match is modeled as an all-pay auction where the winner gets the right to compete at the next round. Equilibrium efforts are in mixed strategies, yielding rather complex play...
Persistent link: https://www.econbiz.de/10010333743
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Specialization and partisanship in committee search
Shi, Xianwen; Moldovanu, Benny - In: Theoretical Economics 8 (2013) 3, pp. 751-774
A committee decides by unanimity whether to accept the current alternative, or to continue costly search. Each alternative is described by a vector of distinct attributes, and each committee member can privately assess the quality of one attribute (her "specialty"). Preferences are heterogeneous...
Persistent link: https://www.econbiz.de/10011599498
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Voting on multiple issues: What to put on the ballot?
Gershkov, Alex; Moldovanu, Benny; Shi, Xianwen - In: Theoretical Economics 14 (2019) 2, pp. 555-596
We study a multi-dimensional collective decision under incomplete information. Agents have Euclidean preferences and vote by simple majority on each issue (dimension), yielding the coordinate-wise median. Judicious rotations of the orthogonal axes -- the issues that are voted upon -- lead to...
Persistent link: https://www.econbiz.de/10012215324
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The multiplier effect in two-sided markets with bilateral investments
Dizdar, Deniz; Moldovanu, Benny; Szech, Nora - 2017
Agents in a finite two-sided market make costly investments and are then matched assortatively based on these investments. Besides signaling complementary types, investments also generate benefits for partners. We shed light on quantitative properties of the equilibrium investment behavior. The...
Persistent link: https://www.econbiz.de/10011760395
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The multiplier effect in two-sided markets with bilateral investments
Dizdar, Deniz; Moldovanu, Benny; Szech, Nora - 2017
Agents in a finite two-sided market make costly investments and are then matched assortatively based on these investments. Besides signaling complementary types, investments also generate benefits for partners. We shed light on quantitative properties of the equilibrium investment behavior. The...
Persistent link: https://www.econbiz.de/10011763164
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The Multiplier Effect in Two-Sided Markets with Bilateral Investments
Dizdar, Deniz; Moldovanu, Benny; Szech, Nora - 2017
Agents in a finite two-sided market are matched assortatively, based on costly investments. Besides signaling private, complementary types, investments generate direct benefits for partners. We explore quantitative properties of the equilibrium investment behavior. The bilateral external...
Persistent link: https://www.econbiz.de/10011794142
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Contests for status
Moldovanu, Benny; Sela, Aner; Shi, Xianwen - 2005
We study the optimal design of organizations under the assumption that agents in a contest care about their relative position. A judicious definition of status categories can be used by a principal in order to influence the agents' performance. We first consider a pure status case where there...
Persistent link: https://www.econbiz.de/10010373503
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Optimal seedings in elimination tournaments
Groh, Christian; Moldovanu, Benny; Sela, Aner; Sunde, Uwe - 2003
We study an elimination tournament with heterogenous contestants whose ability is common-knowledge. Each pair-wise match is modeled as an all-pay auction where the winner gets the right to compete at the next round. Equilibrium efforts are in mixed strategies, yielding rather complex play...
Persistent link: https://www.econbiz.de/10010343975
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On the Equivalence of Bayesian and Dominant Strategy Implementation
Gershkov, Alex - 2019
We consider a standard social choice environment with linear utilities and independent, one-dimensional, private types. We prove that for any Bayesian incentive compatible mechanism there exists an equivalent dominant strategy incentive compatible mechanism that delivers the same interim...
Persistent link: https://www.econbiz.de/10012866267