Similar Search Results

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

Optimal security design for risk-averse investors

Gershkov, Alex; Moldovanu, Benny; Strack, Philipp; … - 2024

We use the tools of mechanism design, combined with the theory of risk measures, to analyze how a cash constrained owner of an asset with known stochastic returns raises capital from a population of investors that differ in their risk aversion and budget constraints. The issuer partitions the...

Persistent link: https://www.econbiz.de/10015045484

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

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

The multiplier effect in two-sided markets with bilateral investments

Dizdar, Deniz; Moldovanu, Benny; Szech, Nora - 2017

Persistent link: https://www.econbiz.de/10011763164

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

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

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

Carrots and Sticks: Prizes and Punishments in Contests

Moldovanu, Benny; Sela, Aner; Shi, Xianwen - C.E.P.R. Discussion Papers - 2008

We study optimal contest design in situations where the designer can reward high performance agents with positive prizes and punish low performance agents with negative prizes. We link the optimal prize structure to the curvature of distribution of abilities in the population. In particular, we...

Persistent link: https://www.econbiz.de/10005504366

Optimal Voting Rules

Gershkov, Alex; Moldovanu, Benny; Shi, Xianwen - University of Toronto, Department of Economics - 2013

We study dominant strategy incentive compatible (DIC) and deterministic mechanisms in a social choice setting with several alternatives. The agents are privately informed about their preferences, and have single-crossing utility functions. Monetary transfers are not feasible. We use an...

Persistent link: https://www.econbiz.de/10010850110