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' prefer- ences 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 implement prizes that respects the true state.
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- Bognanno, Michael L, 2001. "Corporate Tournaments," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 290-315, April.
- Kartik, Navin & Tercieux, Olivier & Holden, Richard, 2014.
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Boston University - Department of Economics - Working Papers Series
WP2010-018, Boston University - Department of Economics.
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Econometric Society, vol. 7(2), pages -, May.
- Hitoshi Matsushima, 2006.
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CIRJE-F-405, CIRJE, Faculty of Economics, University of Tokyo.
- Matsushima, Hitoshi, 2008.
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Elsevier, vol. 100(1), pages 161-164, July.
- 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.
- Dutta, Bhaskar & Sen, Arunava, 2009.
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The Warwick Economics Research Paper Series (TWERPS)
920, University of Warwick, Department of Economics.
- Dutta, Bhaskar & Sen, Arunava, 2012. "Nash implementation with partially honest individuals," Games and Economic Behavior, Elsevier, vol. 74(1), pages 154-169.
- 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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