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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- Hitoshi Matsushima, 2007.
"Role of Honesty in Full Implementation,"
CIRJE-F-518, CIRJE, Faculty of Economics, University of Tokyo.
- Matsushima, Hitoshi, 2008.
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Elsevier, vol. 100(1), pages 161-164, July.
- Kartik, Navin & Tercieux, Olivier, 2012. "Implementation with evidence," Theoretical Economics, Econometric Society, vol. 7(2), May.
- Eric Maskin, 1998.
"Nash Equilibrium and Welfare Optimality,"
Harvard Institute of Economic Research Working Papers
1829, Harvard - Institute of Economic Research.
- Baker, George & Gibbs, Michael & Holmstrom, Bengt, 1994. "The Wage Policy of a Firm," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 921-55, November.
- 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.
- Bognanno, Michael L, 2001. "Corporate Tournaments," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 290-315, April.
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