TY - JOUR
T1 - Full implementation of rank-dependent prizes
AU - Midjord, Rune
N1 - JEL classification: D82
PY - 2013/6
Y1 - 2013/6
N2 - A manager/mechanism designer must allocate a set of money prizes ($1,$2,…,$n) between n agents working in a team. The agents know the state, i.e., who contributed most, second most, etc. The agents’ preferences over prizes are state independent. We incorporate the possibility that the manager knows the state with a tiny probability and present a simple mechanism that uniquely awards prizes that respect the true state.
AB - A manager/mechanism designer must allocate a set of money prizes ($1,$2,…,$n) between n agents working in a team. The agents know the state, i.e., who contributed most, second most, etc. The agents’ preferences over prizes are state independent. We incorporate the possibility that the manager knows the state with a tiny probability and present a simple mechanism that uniquely awards prizes that respect the true state.
KW - Faculty of Social Sciences
KW - Full implementation
KW - Direct mechanism
KW - Verifiable information
KW - Rank-order tournaments
U2 - 10.1016/j.econlet.2013.02.028
DO - 10.1016/j.econlet.2013.02.028
M3 - Journal article
SN - 0165-1765
VL - 119
SP - 261
EP - 263
JO - Economics Letters
JF - Economics Letters
IS - 3
ER -