This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Distributing Awards Efficiently: More on King Solomon’s Problem

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Bag, P.K.
Sabourian, H.

Additional information is available for the following registered author(s):

Abstract

We consider a multi-award generalisation of King Solomon’s problem: k identical and indivisible awards should be distributed among agents, k < n, with the top k valuation agents receiving the awards. Agents have complete information about each other’s valuations. Glazer and Ma (1989) analysed the single-prize (i.e. k = 1) version of this problem. We show that in the ‘more than two agents’ problem the mechanism of Glazer and Ma admits inefficient equilibria and thus fails to solve Solomon’s problem. So, first we modify their mechanism to rule out inefficient equilibria and implement efficient prize allocation in sub-game perfect equilibrium when there are at least three agents. Then it is shown that a simple repeated application of our modified mechanism will distribute k (>1) prizes efficiently in sub-game perfect equilibria without any monetary transfers in equilibrium. Finally, in the multi-awards case we relax the complete information assumption and achieve implementation of efficient allocation by iterative elimination of weakly dominated strategies, using generalisation of Olszewski’s (2003) mechanism.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.econ.cam.ac.uk/dae/repec/cam/pdf/cwpe0418.pdf
File Format: application/pdf
File Function:
Download Restriction: no

Publisher Info
Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0418.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 21
Date of creation: Mar 2004
Date of revision:
Handle: RePEc:cam:camdae:0418

Note: ET
Contact details of provider:
Web page: http://www.econ.cam.ac.uk/index.htm

For technical questions regarding this item, or to correct its listing, contact: (Howard Cobb).

Related research
Keywords: Solomon’s problem; prizes; implementation;

Other versions of this item:

Find related papers by JEL classification:
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Bag, Parimal Kanti, 1996. "Efficient Allocation of a "Pie": Divisible Case of King Solomon's Dilemma," Games and Economic Behavior, Elsevier, vol. 12(1), pages 21-41, January. [Downloadable!] (restricted)
  2. Olszewski, Wojciech, 2003. "A simple and general solution to King Solomon's problem," Games and Economic Behavior, Elsevier, vol. 42(2), pages 315-318, February. [Downloadable!] (restricted)
  3. Perry, Motty & Reny, Philip J., 1999. "A General Solution to King Solomon's Dilemma," Games and Economic Behavior, Elsevier, vol. 26(2), pages 279-285, January. [Downloadable!] (restricted)
    Other versions:
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Mihara, H. Reiju, 2008. "The second-price auction solves King Solomon's dilemma," MPRA Paper 8801, University Library of Munich, Germany. [Downloadable!]
  2. Georgy Artemov, 2006. "Imminent Nash Implementation as a Solution to King Solomon's Dilemma," Economics Bulletin, Economics Bulletin, vol. 4(14), pages 1-8. [Downloadable!]
Statistics
Access and download statistics

Did you know? You too can volunteer with RePEc.

This page was last updated on 2009-11-16.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.