Optimal assignment mechanisms with imperfect verification
Resumen:
Objects of different quality are to be allocated to agents. Agents can receive at most one object, and there are not enough high-quality objects for every agent.The value to the social planner from allocating objects to any given agent depends on that agent’s private information. The social planner is unable to use transfers to give incentives for agents to convey their private information. Instead, she is able to imperfectly verify their reports through signals that are positively affiliated with each agent’s type. We characterize mechanisms that maximize the social planner’s expected payoff. In the optimal mechanism, each agent chooses one of various tracks, which are characterized by two thresholds. If the agent’s signal exceeds the upper threshold of the chosen track, the agent receives a high-quality object, if it is between the two thresholds, he receives a low-quality object, and if it is below the lower threshold, he receives no object.
2023 | |
Probabilistic Verification Evidence Mechanism design Matching |
|
Inglés | |
Universidad de Montevideo | |
REDUM | |
https://hdl.handle.net/20.500.12806/2441
https://doi.org/10.3982/TE5088 |
|
Acceso abierto | |
Attribution-NonCommercial-NoDerivatives 4.0 Internacional |
_version_ | 1807356681195094016 |
---|---|
author | Pereyra, Juan S. |
author2 | Silva, Francisco |
author2_role | author |
author_facet | Pereyra, Juan S. Silva, Francisco |
author_role | author |
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bitstream.checksumAlgorithm.fl_str_mv | MD5 MD5 MD5 MD5 MD5 |
bitstream.url.fl_str_mv | http://redum.um.edu.uy/bitstream/20.500.12806/2441/1/Theoretical%20Economics%20-%202023%20-%20Pereyra%20-%20Optimal%20assignment%20mechanisms%20with%20imperfect%20verification.pdf http://redum.um.edu.uy/bitstream/20.500.12806/2441/2/license_rdf http://redum.um.edu.uy/bitstream/20.500.12806/2441/3/license.txt http://redum.um.edu.uy/bitstream/20.500.12806/2441/4/Theoretical%20Economics%20-%202023%20-%20Pereyra%20-%20Optimal%20assignment%20mechanisms%20with%20imperfect%20verification.pdf.txt http://redum.um.edu.uy/bitstream/20.500.12806/2441/5/Theoretical%20Economics%20-%202023%20-%20Pereyra%20-%20Optimal%20assignment%20mechanisms%20with%20imperfect%20verification.pdf.jpg |
collection | REDUM |
dc.contributor.filiacion.es.fl_str_mv | Pereyra, Juan S. Universidad de Montevideo, Uruguay Silva, Francisco. Deakin University |
dc.creator.none.fl_str_mv | Pereyra, Juan S. Silva, Francisco |
dc.date.accessioned.none.fl_str_mv | 2024-06-12T17:20:31Z |
dc.date.available.none.fl_str_mv | 2024-06-12T17:20:31Z |
dc.date.issued.es.fl_str_mv | 2023 |
dc.description.abstract.none.fl_txt_mv | Objects of different quality are to be allocated to agents. Agents can receive at most one object, and there are not enough high-quality objects for every agent.The value to the social planner from allocating objects to any given agent depends on that agent’s private information. The social planner is unable to use transfers to give incentives for agents to convey their private information. Instead, she is able to imperfectly verify their reports through signals that are positively affiliated with each agent’s type. We characterize mechanisms that maximize the social planner’s expected payoff. In the optimal mechanism, each agent chooses one of various tracks, which are characterized by two thresholds. If the agent’s signal exceeds the upper threshold of the chosen track, the agent receives a high-quality object, if it is between the two thresholds, he receives a low-quality object, and if it is below the lower threshold, he receives no object. |
dc.format.extent.es.fl_str_mv | pp. 793-836 |
dc.format.mimetype.es.fl_str_mv | application/pdf |
dc.identifier.doi.es.fl_str_mv | https://doi.org/10.3982/TE5088 |
dc.identifier.issn.es.fl_str_mv | 1555-7561 |
dc.identifier.uri.none.fl_str_mv | https://hdl.handle.net/20.500.12806/2441 |
dc.language.iso.none.fl_str_mv | eng |
dc.publisher.es.fl_str_mv | Wiley |
dc.relation.ispartof.es.fl_str_mv | Theoretical Economics, n° 18, 793-836 |
dc.rights.es.fl_str_mv | Abierto |
dc.rights.license.none.fl_str_mv | Attribution-NonCommercial-NoDerivatives 4.0 Internacional |
dc.rights.none.fl_str_mv | info:eu-repo/semantics/openAccess |
dc.rights.uri.*.fl_str_mv | http://creativecommons.org/licenses/by-nc-nd/4.0/ |
dc.source.none.fl_str_mv | reponame:REDUM instname:Universidad de Montevideo instacron:Universidad de Montevideo |
dc.subject.keyword.es.fl_str_mv | Probabilistic Verification Evidence Mechanism design Matching |
dc.title.none.fl_str_mv | Optimal assignment mechanisms with imperfect verification |
dc.type.es.fl_str_mv | Artículo |
dc.type.none.fl_str_mv | info:eu-repo/semantics/article |
dc.type.version.es.fl_str_mv | Publicada |
dc.type.version.none.fl_str_mv | info:eu-repo/semantics/publishedVersion |
description | Objects of different quality are to be allocated to agents. Agents can receive at most one object, and there are not enough high-quality objects for every agent.The value to the social planner from allocating objects to any given agent depends on that agent’s private information. The social planner is unable to use transfers to give incentives for agents to convey their private information. Instead, she is able to imperfectly verify their reports through signals that are positively affiliated with each agent’s type. We characterize mechanisms that maximize the social planner’s expected payoff. In the optimal mechanism, each agent chooses one of various tracks, which are characterized by two thresholds. If the agent’s signal exceeds the upper threshold of the chosen track, the agent receives a high-quality object, if it is between the two thresholds, he receives a low-quality object, and if it is below the lower threshold, he receives no object. |
eu_rights_str_mv | openAccess |
format | article |
id | REDUM_1f79f7ba6e1443e7acbc8f47b5ddb5ec |
identifier_str_mv | 1555-7561 |
instacron_str | Universidad de Montevideo |
institution | Universidad de Montevideo |
instname_str | Universidad de Montevideo |
language | eng |
network_acronym_str | REDUM |
network_name_str | REDUM |
oai_identifier_str | oai:redum.um.edu.uy:20.500.12806/2441 |
publishDate | 2023 |
reponame_str | REDUM |
repository.mail.fl_str_mv | nolascoaga@um.edu.uy |
repository.name.fl_str_mv | REDUM - Universidad de Montevideo |
repository_id_str | 10501 |
rights_invalid_str_mv | Attribution-NonCommercial-NoDerivatives 4.0 Internacional Abierto http://creativecommons.org/licenses/by-nc-nd/4.0/ |
spelling | Attribution-NonCommercial-NoDerivatives 4.0 InternacionalAbiertohttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessf117db58-bcc8-4ad0-a55c-816ab5052a016770acb2-f8d4-4f81-ab25-1c119b35fbedPereyra, Juan S. Universidad de Montevideo, UruguaySilva, Francisco. Deakin University2024-06-12T17:20:31Z2024-06-12T17:20:31Z20231555-7561https://hdl.handle.net/20.500.12806/2441https://doi.org/10.3982/TE5088pp. 793-836application/pdfengWileyTheoretical Economics, n° 18, 793-836Optimal assignment mechanisms with imperfect verificationArtículoPublicadainfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleObjects of different quality are to be allocated to agents. Agents can receive at most one object, and there are not enough high-quality objects for every agent.The value to the social planner from allocating objects to any given agent depends on that agent’s private information. The social planner is unable to use transfers to give incentives for agents to convey their private information. Instead, she is able to imperfectly verify their reports through signals that are positively affiliated with each agent’s type. We characterize mechanisms that maximize the social planner’s expected payoff. In the optimal mechanism, each agent chooses one of various tracks, which are characterized by two thresholds. If the agent’s signal exceeds the upper threshold of the chosen track, the agent receives a high-quality object, if it is between the two thresholds, he receives a low-quality object, and if it is below the lower threshold, he receives no object.ProbabilisticVerificationEvidenceMechanism designMatchingreponame:REDUMinstname:Universidad de Montevideoinstacron:Universidad de MontevideoPereyra, Juan S.Silva, FranciscoORIGINALTheoretical Economics - 2023 - Pereyra - Optimal assignment mechanisms with imperfect verification.pdfTheoretical Economics - 2023 - Pereyra - Optimal assignment mechanisms with imperfect verification.pdfapplication/pdf414223http://redum.um.edu.uy/bitstream/20.500.12806/2441/1/Theoretical%20Economics%20-%202023%20-%20Pereyra%20-%20Optimal%20assignment%20mechanisms%20with%20imperfect%20verification.pdf8b80ba5d472509ba38730f34d49d0373MD51CC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-8805http://redum.um.edu.uy/bitstream/20.500.12806/2441/2/license_rdf4460e5956bc1d1639be9ae6146a50347MD52LICENSElicense.txtlicense.txttext/plain; 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spellingShingle | Optimal assignment mechanisms with imperfect verification Pereyra, Juan S. Probabilistic Verification Evidence Mechanism design Matching |
status_str | publishedVersion |
title | Optimal assignment mechanisms with imperfect verification |
title_full | Optimal assignment mechanisms with imperfect verification |
title_fullStr | Optimal assignment mechanisms with imperfect verification |
title_full_unstemmed | Optimal assignment mechanisms with imperfect verification |
title_short | Optimal assignment mechanisms with imperfect verification |
title_sort | Optimal assignment mechanisms with imperfect verification |
topic | Probabilistic Verification Evidence Mechanism design Matching |
url | https://hdl.handle.net/20.500.12806/2441 https://doi.org/10.3982/TE5088 |