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Assignment of Heterogeneous Agents in Trees under the Permission Value

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  • Chakrabarti, Subhadip
  • Ghintran, Amandine

Abstract

We investigate assignment of heterogeneous agents in trees where the allocation rule is given by the permission value. We focus on efficient hierarchies,namely those, for which the payoff of the top agent is maximized. For additive games, such hierarchies are always cogent, namely, more productive agents occupy higher positions. The result can be extended to non-additive games with appropriate restrictions on the value function. Finally, we consider auctions where agents bid for positions in a two agent vertical hierarchy. Under simultaneous bidding, an equilibrium does not exist while sequential bidding always results in a non-cogent hierarchy.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49115.

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Date of creation: 27 Jul 2013
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Handle: RePEc:pra:mprapa:49115

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Keywords: permission value; hierarchies;

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  1. Edward P. Lazear & Sherwin Rosen, 1979. "Rank-Order Tournaments as Optimum Labor Contracts," NBER Working Papers 0401, National Bureau of Economic Research, Inc.
  2. Gilles, R.P. & Owen, G. & Brink, J.R. van den, 1991. "Games with permission structures: The conjunctive approach," Discussion Paper 1991-14, Tilburg University, Center for Economic Research.
  3. Oliver E. Williamson, 1967. "Hierarchical Control and Optimum Firm Size," Journal of Political Economy, University of Chicago Press, vol. 75, pages 123.
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