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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...
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We derive conditions on the learning environment - which encompasses both Bayesian and non-Bayesian processes - ensuring that an efficient allocation of resources is achievable in a dynamic allocation environment where impatient, privately informed agents arrive over time, and where the designer...
Persistent link: https://www.econbiz.de/10013159388
We derive the revenue maximizing allocation of m units among n symmetric agents who have unit demand, and who take costly actions that influence their values before participating in the mechanism. The allocation problem with costly actions can be represented by a reduced form model where agents...
Persistent link: https://www.econbiz.de/10012840343
We derive the revenue maximizing mechanism for a risk-neutral seller whofaces Yaari's [1987] dual risk-averse bidders. The optimal mechanism offers "full-insurance" in the sense that each agent's utility is independent of other agents'reports. The seller excludes less types than under risk...
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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
A designer allocates several indivisible objects to a stream of randomly arriving agents. The long-lived agents are privately informed about their value for an object, and about their arrival time to the market. The designer learns about future arrivals from past arrivals, while agents...
Persistent link: https://www.econbiz.de/10013005644
We study the revenue maximizing allocation of m units among n symmetric agents with unit demand that have convex preferences over the probability of receiving an object. We show that such preferences are naturally induced by a game where the agents take costly actions that affect their values...
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