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Multiproject team assignments


  • Katerina Sherstyuk

    () (Department of Economics, University of Melbourne, Parkville, Victoria 3052, Australia)


We consider expected profit maximizing mechanisms for a principal who has to allocate a group of agents among a number of projects, assuming that the principal has incomplete information about each agent's ability type, and the agents follow the Bayes-Nash or the dominant strategy equilibrium behavior. We find that while expected profit maximizing mechanisms are similar to the optimal auction (Myerson, 1981), the incentive compatibility constraints are much more restrictive. Interestingly, these constraints are satisfied if each agent's characteristics change in a consistent manner not only with types, but also from project to project.

Suggested Citation

  • Katerina Sherstyuk, 1999. "Multiproject team assignments," Review of Economic Design, Springer;Society for Economic Design, vol. 4(3), pages 231-254.
  • Handle: RePEc:spr:reecde:v:4:y:1999:i:3:p:231-254 Note: Received: 30 April 1997 / Accepted: 22 December 1998

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    References listed on IDEAS

    1. Stiglitz, Joseph E., 1987. "Pareto efficient and optimal taxation and the new new welfare economics," Handbook of Public Economics,in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 15, pages 991-1042 Elsevier.
    2. Andersson, Fredrik, 1996. "Income taxation and job-market signaling," Journal of Public Economics, Elsevier, vol. 59(2), pages 277-298, February.
    3. Jewitt, Ian, 1988. "Justifying the First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 56(5), pages 1177-1190, September.
    4. Caillaud Bernard & Hermalin Benjamin, 1993. "The Use of an Agent in a Signalling Model," Journal of Economic Theory, Elsevier, vol. 60(1), pages 83-113, June.
    5. J. A. Mirrlees, 1971. "An Exploration in the Theory of Optimum Income Taxation," Review of Economic Studies, Oxford University Press, vol. 38(2), pages 175-208.
    6. Holmstrom, Bengt & Milgrom, Paul, 1987. "Aggregation and Linearity in the Provision of Intertemporal Incentives," Econometrica, Econometric Society, vol. 55(2), pages 303-328, March.
    7. Lewis, Tracy R. & Sappington, David E. M., 1989. "Countervailing incentives in agency problems," Journal of Economic Theory, Elsevier, vol. 49(2), pages 294-313, December.
    8. Asheim, Geir B., 1991. "Extending renegotiation-proofness to infinite horizon games," Games and Economic Behavior, Elsevier, vol. 3(3), pages 278-294, August.
    9. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, Oxford University Press, vol. 87(3), pages 355-374.
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    More about this item


    Allocation problem; teams; incentive mechanisms; monotonicity;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design


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