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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...
Persistent link: https://www.econbiz.de/10014186581
the lowest equilibrium payoffs across players. The characterization is tight: we define a set of payoffs that contains all … the belief-free equilibrium payoffs; conversely, any point in the interior of this set is a belief-free equilibrium payoff …
Persistent link: https://www.econbiz.de/10014046016
(iii) an all-pay auction with non-monotone equilibrium …
Persistent link: https://www.econbiz.de/10012859691
(iii) an all-pay auction with non-monotone equilibrium …
Persistent link: https://www.econbiz.de/10012839304
The paper broadens the focus of empirical research on salesforce management to include multitasking settings with multidimensional incentives, where salespeople have private information about customers. This allows us to ask novel substantive questions around multidimensional incentive design...
Persistent link: https://www.econbiz.de/10013231656
We develop the first structural model of a multitasking salesforce to address questions of job design and incentive compensation design. The model incorporates three novel features: (i) multitasking effort choice given a multidimensional incentive plan; (ii) salesperson's private information...
Persistent link: https://www.econbiz.de/10012847770
The monetary and fiscal control of a simple economy without outside randomness is studied here from the micro-economic basis of a strategic market game. The government's bureaucracy is treated as a public good that provides services at a cost. A conventional public good is also considered
Persistent link: https://www.econbiz.de/10014213408
Humans cooperate a great deal in economic activity, but our two major models of equilibrium – Walrasian competitive in … decision making (Kantian optimization); here, I embed Kantian optimization in general equilibrium models and show that ‘Walras …
Persistent link: https://www.econbiz.de/10012950090
In this paper we develop an approach to measuring inequality and poverty that recognizes the fact that individuals within households may have both different preferences and differential access to resources. We argue that a measure based on estimates of the sharing rule is inadequate as an...
Persistent link: https://www.econbiz.de/10013053289
Studies of inequality often ignore resource allocation within the household. In doing so they miss an important element of the distribution of welfare that can vary dramatically depending on overall environmental and economic factors. Thus, measures of inequality that ignore intra household...
Persistent link: https://www.econbiz.de/10013053293