Full implementation of rank-dependent prizes
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.
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References listed on IDEAS
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- George Baker & Michael Gibbs & Bengt Holmstrom, 1994. "The Wage Policy of a Firm," The Quarterly Journal of Economics, Oxford University Press, vol. 109(4), pages 921-955.
- Hitoshi Matsushima, 2007.
"Role of Honesty in Full Implementation,"
CIRJE-F-518, CIRJE, Faculty of Economics, University of Tokyo.
- Ben-Porath, Elchanan & Lipman, Barton L., 2012.
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Journal of Economic Theory,
Elsevier, vol. 147(5), pages 1689-1724.
- Barton L. Lipman & Elchanan Ben-Porath, 2010. "Implementation with Partial Provability," Boston University - Department of Economics - Working Papers Series WP2010-018, Boston University - Department of Economics.
- Kartik, Navin & Tercieux, Olivier, 2012.
"Implementation with evidence,"
Econometric Society, vol. 7(2), May.
- Bognanno, Michael L, 2001. "Corporate Tournaments," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 290-315, April.
- Matsushima, Hitoshi, 2008.
"Behavioral aspects of implementation theory,"
Elsevier, vol. 100(1), pages 161-164, July.
- Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
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