A natural mechanism to choose the deserving winner when the jury is made up of all contestants
AbstractWe analyze the problem of a jury choosing the winner from a set of agents when the identity of the deserving winner is common knowledge amongst the jurors but each juror is biased in favor of one di¤erent agent. We propose a simple and natural mechanism that implements the socially optimal rule (the winner is the deserving winner) in subgame perfect equilibria.
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Bibliographic InfoPaper provided by Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center in its series Working Papers with number 2010-07.
Length: 9 pages
Date of creation: Jul 2010
Date of revision:
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More information through EDIRC
mechanism design; contests; subgame perfect equilibrium;
Other versions of this item:
- Amorós, Pablo, 2011. "A natural mechanism to choose the deserving winner when the jury is made up of all contestants," Economics Letters, Elsevier, vol. 110(3), pages 241-244, March.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
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