IDEAS home Printed from https://ideas.repec.org/p/cla/levarc/786969000000000020.html
   My bibliography  Save this paper

Efficient Search by Committee

Author

Listed:
  • Dirk Bergemann
  • Juuso Valimaki

Abstract

This note constructs an efficient mechanism for finding the best candidate for a committee from a sequence of potential candidates. Committee members have independent private values information about the quality of the candidate. The mechanism selects the best candidate according to the standard utilitarian welfare criterion. Furthermore, the mechanism can be modified to have a balanced budget.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Dirk Bergemann & Juuso Valimaki, 2011. "Efficient Search by Committee," Levine's Working Paper Archive 786969000000000020, David K. Levine.
    • Handle: RePEc:cla:levarc:786969000000000020
    as

    Download full text from publisher

    File URL: http://www.dklevine.com/archive/refs4786969000000000020.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Dirk Bergemann & Juuso V‰lim‰ki, 2010. "The Dynamic Pivot Mechanism," Econometrica, Econometric Society, vol. 78(2), pages 771-789, March.
    2. Albrecht, James & Anderson, Axel & Vroman, Susan, 2010. "Search by committee," Journal of Economic Theory, Elsevier, vol. 145(4), pages 1386-1407, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mauring, Eeva, 2016. "A two-agent model of sequential search and choice," Journal of Economic Behavior & Organization, Elsevier, vol. 123(C), pages 122-137.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arve, Malin & Zwart, Gijsbert, 2023. "Optimal procurement and investment in new technologies under uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
    2. Rohan DUTTA, 2016. "Joint Search with No Information: An Inefficient Immediate Agreement Theorem," Cahiers de recherche 12-2016, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    3. , H. & ,, 2016. "Approximate efficiency in repeated games with side-payments and correlated signals," Theoretical Economics, Econometric Society, vol. 11(1), January.
    4. Julio B. Clempner, 2023. "A Dynamic Mechanism Design for Controllable and Ergodic Markov Games," Computational Economics, Springer;Society for Computational Economics, vol. 61(3), pages 1151-1171, March.
    5. Francis Bloch & David Cantala, 2013. "Markovian assignment rules," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(1), pages 1-25, January.
    6. Guler, Bulent & Guvenen, Fatih & Violante, Giovanni L., 2012. "Joint-search theory: New opportunities and new frictions," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 352-369.
    7. Doruk Cetemen & Can Urgun & Leeat Yariv, 2023. "Collective Progress: Dynamics of Exit Waves," Journal of Political Economy, University of Chicago Press, vol. 131(9), pages 2402-2450.
    8. Daley, Brendan & Schwarz, Michael & Sonin, Konstantin, 2012. "Efficient investment in a dynamic auction environment," Games and Economic Behavior, Elsevier, vol. 75(1), pages 104-119.
    9. Moldovanu, Benny & Rosar, Frank, 2021. "Brexit: A comparison of dynamic voting games with irreversible options," Games and Economic Behavior, Elsevier, vol. 130(C), pages 85-108.
    10. Said, Maher, 2012. "Auctions with dynamic populations: Efficiency and revenue maximization," Journal of Economic Theory, Elsevier, vol. 147(6), pages 2419-2438.
    11. Bergemann, Dirk & Strack, Philipp, 2015. "Dynamic revenue maximization: A continuous time approach," Journal of Economic Theory, Elsevier, vol. 159(PB), pages 819-853.
    12. Philippe Jehiel & Laurent Lamy, 2020. "On the Benefits of Set-Asides," Journal of the European Economic Association, European Economic Association, vol. 18(4), pages 1655-1696.
    13. J. Ignacio García‐Pérez & Sílvio Rendon, 2020. "Family job search and wealth: The added worker effect revisited," Quantitative Economics, Econometric Society, vol. 11(4), pages 1431-1459, November.
    14. Mierendorff, Konrad, 2016. "Optimal dynamic mechanism design with deadlines," Journal of Economic Theory, Elsevier, vol. 161(C), pages 190-222.
    15. Olivier Compte & Philippe Jehiel, 2010. "Bargaining and Majority Rules: A Collective Search Perspective," Journal of Political Economy, University of Chicago Press, vol. 118(2), pages 189-221, April.
    16. Babaioff, Moshe & Blumrosen, Liad & Roth, Aaron, 2015. "Auctions with online supply," Games and Economic Behavior, Elsevier, vol. 90(C), pages 227-246.
    17. Jean Tirole, 2016. "From Bottom of the Barrel to Cream of the Crop: Sequential Screening With Positive Selection," Econometrica, Econometric Society, vol. 84(4), pages 1291-1343, July.
    18. Valladares-Esteban, Arnau & Choi, Sekyu, 2016. "The marriage unemployment gap," Discussion Paper Series In Economics And Econometrics 1509, Economics Division, School of Social Sciences, University of Southampton.
    19. Krähmer, Daniel & Strausz, Roland, 2010. "Optimal Procurement Contracts with Pre–Project Planning," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 303, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    20. Yash Kanoria & Hamid Nazerzadeh, 2020. "Dynamic Reserve Prices for Repeated Auctions: Learning from Bids," Papers 2002.07331, arXiv.org.

    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cla:levarc:786969000000000020. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: David K. Levine (email available below). General contact details of provider: http://www.dklevine.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.