Efficient Search by Committee
AbstractThis note constructs an efficient mechanism for finding the best candidate for a committee from a sequence of potential candidates. Committee members have independent private values information about the quality of the candidate. The mechanism selects the best candidate according to the standard utilitarian welfare criterion. Furthermore, the mechanism can be modified to have a balanced budget.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1782.
Length: 10 pages
Date of creation: Jan 2011
Date of revision:
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
- NEP-CDM-2011-02-05 (Collective Decision-Making)
- NEP-CTA-2011-02-05 (Contract Theory & Applications)
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.:
- Dirk Bergemann & Juuso V‰lim‰ki, 2010.
"The Dynamic Pivot Mechanism,"
Econometric Society, vol. 78(2), pages 771-789, 03.
- Dirk Bergemann & Juuso Valimaki, 2008. "The Dynamic Pivot Mechanism," Cowles Foundation Discussion Papers 1672, Cowles Foundation for Research in Economics, Yale University.
- Dirk Bergemann & Juuso Välimäki, 2008. "The Dynamic Pivot Mechanism," Levine's Working Paper Archive 122247000000002340, David K. Levine.
- Dirk Bergemann & Juuso Valimaki, 2008. "The Dynamic Pivot Mechanism," Cowles Foundation Discussion Papers 1672R, Cowles Foundation for Research in Economics, Yale University, revised Dec 2009.
- James Albrecht & Axel Anderson & Susan Vroman, 2007.
"Search by Committee,"
gueconwpa~07-07-09, Georgetown University, Department of Economics.
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