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Incentivizing Agents through Ratings 通过评级激励代理商
Pub Date : 2024-07-15 DOI: arxiv-2407.10525
Peiran Xiao
I study the optimal design of performance or product ratings to motivateagents' performance or investment in product quality. The principal designs arating that maps their quality (performance) to possibly stochastic scores.Agents have private information about their abilities (cost of effort/quality)and choose their quality. The market observes the scores and offers a wageequal to the agent's expected quality [resp. ability]. I first show that an incentive-compatible interim wage function can beinduced by a rating (i.e., feasible) if and only if it is a mean-preservingspread of quality [resp. ability]. Thus, I reduce the principal's rating designproblem to the design of a feasible interim wage. When restricted todeterministic ratings, the optimal rating design is equivalent to the optimaldelegation with participation constraints (Amador and Bagwell, 2022). Usingoptimal control theory, I provide necessary and sufficient conditions underwhich lower censorship, and particularly a simple pass/fail test, are optimalwithin deterministic ratings. In particular, when the principal elicits maximaleffort (quality), lower censorship [resp. pass/fail] is optimal if the densityis unimodal [resp. increasing]. I also solve for the optimal deterministicratings beyond lower censorship for general distributions and preferences. Forgeneral ratings, I provide sufficient conditions under which lower censorshipremains optimal. In the effort-maximizing case, a pass/fail test remainsoptimal if the density is increasing.
我研究的是绩效或产品评级的最佳设计,以激励代理人的绩效或对产品质量的投资。代理人对自己的能力(努力成本/质量)拥有私人信息,并选择自己的质量。市场观察分数,并提供与代理人预期质量[或能力]相等的工资。我首先证明,当且仅当评级是质量[或能力]的均值保留范围时,激励相容的临时工资函数可以由评级引起(即可行)。因此,我将委托人的评级设计问题简化为可行的临时工资设计问题。当限制为确定性评级时,最优评级设计等同于带参与约束的最优授权(Amador 和 Bagwell,2022 年)。利用最优控制理论,我提供了必要条件和充分条件,在这些条件下,较低的审查制度,尤其是简单的通过/失败测试,在确定性评级中是最优的。特别是,当委托人要求最大努力(质量)时,如果密度是单峰的[或递增的],较低的审查制度[或通过/失败]就是最优的。我还求解了在一般分布和偏好情况下较低审查率之外的最优确定性评级。对于一般评级,我提供了充分条件,在这些条件下,较低的审查制度仍然是最优的。在努力最大化的情况下,如果密度是递增的,那么通过/未通过测试仍然是最优的。
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引用次数: 0
Carbon Pricing and Resale in Emission Trading Systems 排放交易体系中的碳定价和转售
Pub Date : 2024-07-10 DOI: arxiv-2407.07386
Peyman Khezr
Secondary markets and resale are integral components of all emission tradingsystems. Despite the justification for these secondary trades, such asunpredictable demand, they may encourage speculation and result in themisallocation of permits. In this paper, our aim is to underscore theimportance of efficiency in the initial allocation mechanism and to explore howconcerns leading to the establishment of secondary markets, such as uncertaindemand, can be addressed through alternative means, such as frequent auctions.We demonstrate that the existence of a secondary market could lead to higheruntruthful bids in the auction, further encouraging speculation and theaccumulation of rent. Our results suggest that an inefficient initialallocation could enable speculators with no use value for the permits to bid inthe auction and subsequently earn rents in secondary markets by trading thesepermits. Even if the secondary market operates efficiently, the resulting rent,which represents a potential loss of auction revenue, cannot be overlooked.
二级市场和转售是所有排放交易系统的组成部分。尽管这些二级交易有其合理性,如需求不可预测,但它们可能会鼓励投机并导致许可证的错误分配。本文旨在强调初始分配机制效率的重要性,并探讨如何通过频繁拍卖等其他方式解决导致二级市场建立的问题,如需求不确定等。我们的研究结果表明,低效的初始分配可能会使对许可证没有使用价值的投机者在拍卖中出价,然后在二级市场上通过交易这些许可证赚取租金。即使二级市场运作有效,由此产生的租金也不容忽视,这意味着拍卖收入的潜在损失。
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引用次数: 0
Optimal Decision Mechanisms for Committees: Acquitting the Guilty 委员会的最佳决策机制:无罪释放
Pub Date : 2024-07-10 DOI: arxiv-2407.07293
Deniz Kattwinkel, Alexander Winter
A group of privately informed agents chooses between two alternatives. Howshould the decision rule be designed if agents are known to be biased in favorof one of the options? We address this question by considering the CondorcetJury Setting as a mechanism design problem. Applications include the optimaldecision mechanisms for boards of directors, political committees, and trialjuries. While we allow for any kind of mechanism, the optimal mechanism is a votingmechanism. In the terminology of the trial jury example: When jurors (agents)are more eager to convict than the lawmaker (principal), then the defendantshould be convicted if and only if neither too many nor too few jurors vote toconvict. This kind of mechanism accords with a judicial procedure from ancient Jewishlaw.
一组私人知情代理人在两个备选方案中做出选择。如果已知代理人偏向于其中一个选项,那么应该如何设计决策规则呢?我们将 "康德赛特陪审团设置 "视为一个机制设计问题来解决这个问题。其应用包括董事会、政治委员会和审判陪审团的最优决策机制。虽然我们允许任何类型的机制,但最优机制是投票机制。以审判陪审团为例:当陪审员(代理人)比立法者(委托人)更渴望定罪时,那么被告就应该被定罪,条件是且仅当既没有太多也没有太少的陪审员投票支持定罪。这种机制符合古代犹太法中的一种司法程序。
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引用次数: 0
Pattern formation by advection-diffusion in new economic geography 新经济地理学中的平流-扩散模式形成
Pub Date : 2024-07-08 DOI: arxiv-2407.05804
Kensuke Ohtake
A new economic geography model is proposed in which the migration of mobileworkers is proximate and perturbed by non-economic factors. The model consistsof a tractable core-periphery model assuming a quasi-linear log utilityfunction of consumers and an advection-diffusion equation governing the timeevolution of a population distribution. The stability of a spatiallyhomogeneous stationary solution and the large time behavior of solutions to themodel on a one-dimensional periodic space are investigated. When the spatiallyhomogeneous stationary solution is unstable, solutions starting around it arefound to eventually form spatial patterns with several urban areas in whichmobile workers agglomerate.
本文提出了一个新的经济地理模型,在该模型中,流动工人的迁移是近似的,并受到非经济因素的干扰。该模型由一个可操作的核心-外围模型和一个控制人口分布时间演变的平流-扩散方程组成,前者假定消费者具有准线性对数效用函数。本文研究了空间均匀静止解的稳定性以及该模型在一维周期空间上的解的大时间行为。当空间均质静止解不稳定时,发现以其为起点的解最终会形成多个城市区域的空间模式,流动工人聚集在这些城市区域中。
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引用次数: 0
Basins of Attraction in Two-Player Random Ordinal Potential Games 双人随机正序势能游戏中的吸引力基础
Pub Date : 2024-07-07 DOI: arxiv-2407.05460
Andrea Collevecchio, Hlafo Alfie Mimun, Matteo Quattropani, Marco Scarsini
We consider the class of two-person ordinal potential games where each playerhas the same number of actions $K$. Each game in this class admits at least onepure Nash equilibrium and the best-response dynamics converges to one of thesepure Nash equilibria; which one depends on the starting point. So, each pureNash equilibrium has a basin of attraction. We pick uniformly at random one game from this class and we study the jointdistribution of the sizes of the basins of attraction. We provide an asymptoticexact value for the expected basin of attraction of each pure Nash equilibrium,when the number of actions $K$ goes to infinity.
我们考虑的是两人序数势能博弈,其中每个博弈者都有相同数量的行动 $K$。这类博弈中的每个博弈都至少有一个纯纳什均衡,而且最佳反应动力学会收敛到这些纯纳什均衡中的一个,至于是哪一个取决于起点。因此,每个纯纳什均衡都有一个吸引盆地。我们从这类博弈中随机抽取一个博弈,研究吸引力盆地大小的联合分布。当行动数 $K$ 变为无穷大时,我们给出了每个纯纳什均衡的预期吸引盆地的渐近精确值。
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引用次数: 0
Collective Upkeep 集体维护
Pub Date : 2024-07-06 DOI: arxiv-2407.05196
Erik Madsen, Eran Shmaya
We design mechanisms for maintaining public goods which require periodicnon-monetary contributions. Utilitarian welfare is maximized by concentratingcontributions among low-cost group members, but such policies generally inducesome members to leave the group or misreport their preferences. To forestallexit, contributions must be shifted from members with intermediate costs tosome high-cost members. To deter misreporting, members must be screened usingup to two membership tiers, which reward larger contributions with increasedaccess to the good. We apply our results to the design of platforms such asNetflix and TikTok hosting crowd-sourced recommendation engines, which functionas public goods supported by user feedback about new content.
我们设计了需要定期非货币捐助的公共物品维护机制。将捐款集中给低成本成员,可以实现功利主义福利最大化,但这种政策通常会诱使一些成员离开群体或误报他们的偏好。为了避免出现这种情况,必须将中间成本成员的捐款转移给一些高成本成员。为了阻止虚报,必须使用多达两个成员等级对成员进行筛选,奖励贡献较大的成员,增加他们获得物品的机会。我们将我们的研究结果应用于诸如 Netflix 和 TikTok 等平台的设计,这些平台承载着众包推荐引擎,通过用户对新内容的反馈来实现公共产品的功能。
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引用次数: 0
Fair Money -- Public Good Value Pricing With Karma Economies 公平货币 -- 利用因果报应经济进行公益价值定价
Pub Date : 2024-07-06 DOI: arxiv-2407.05132
Kevin Riehl, Anastasios Kouvelas, Michail Makridis
City road infrastructure is a public good, and over-consumption byself-interested, rational individuals leads to traffic jams. Congestion pricingis effective in reducing demand to sustainable levels, but also controversial,as it introduces equity issues and systematically discriminates lower-incomegroups. Karma is a non-monetary, fair, and efficient resource allocationmechanism, that employs an artificial currency different from money, thatincentivizes cooperation amongst selfish individuals, and achieves a balancebetween giving and taking. Where money does not do its job, Karma achievessocially more desirable resource allocations by being aligned with consumers'needs rather than their financial power. This work highlights the valueproposition of Karma, gives guidance on important Karma mechanism designelements, and equips the reader with a useful software framework to model Karmaeconomies and predict consumers' behaviour. A case study demonstrates thepotential of this feasible alternative to money, without the burden ofadditional fees.
城市道路基础设施是一种公共产品,自利、理性的个人过度消费会导致交通堵塞。拥堵定价能有效地将需求降至可持续水平,但也存在争议,因为它引入了公平问题,系统性地歧视低收入群体。因果报应是一种非货币、公平、高效的资源分配机制,它采用了一种不同于货币的人工货币,激励自私的个人之间开展合作,并实现付出与索取之间的平衡。当货币不能发挥其作用时,卡尔玛会根据消费者的需求而不是他们的经济实力来实现更理想的资源分配。这部著作强调了 "因果报应 "的价值主张,为 "因果报应 "机制的重要设计要素提供了指导,并为读者提供了一个有用的软件框架,用于建立 "因果报应 "经济模型和预测消费者行为。一个案例研究展示了这种可行的货币替代品的潜力,而且没有额外费用负担。
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引用次数: 0
Nash epidemics 纳什流行病
Pub Date : 2024-07-05 DOI: arxiv-2407.04366
Simon K. Schnyder, John J. Molina, Ryoichi Yamamoto, Matthew S. Turner
Faced with a dangerous epidemic humans will spontaneously social distance toreduce their risk of infection at a socio-economic cost. Compartmentalisedepidemic models have been extended to include this endogenous decision making:Individuals choose their behaviour to optimise a utility function,self-consistently giving rise to population behaviour. Here we study theproperties of the resulting Nash equilibria, in which no member of thepopulation can gain an advantage by unilaterally adopting different behaviour.We leverage a new analytic solution to obtain, (1) a simple relationshipbetween rational social distancing behaviour and the current number ofinfections; (2) new scaling results for how the infection peak and number oftotal cases depend on the cost of contracting the disease; (3) characteristicinfection costs that divide regimes of strong and weak behavioural response anddepend only on the basic reproduction number of the disease; (4) a closed formexpression for the value of the utility. We discuss how these analytic resultsprovide a deep and intuitive understanding into the disease dynamics, usefulfor both individuals and policymakers. In particular the relationship betweensocial distancing and infections represents a heuristic that could becommunicated to the population to encourage, or "bootstrap", rationalbehaviour.
面对危险的流行病,人类会自发地拉开社会距离,以社会经济代价降低感染风险。分区流行病模型已被扩展到包括这种内生决策:个体选择其行为以优化效用函数,自洽地产生群体行为。在这里,我们将研究由此产生的纳什均衡的特性,在纳什均衡中,任何群体成员都不能通过单方面采取不同行为而获得优势。我们利用一种新的分析解决方案,得到了:(1)理性社会疏远行为与当前感染数量之间的简单关系;(2)感染峰值和总病例数如何依赖于感染疾病成本的新缩放结果;(3)划分强行为响应和弱行为响应制度的特征感染成本,并且只依赖于疾病的基本繁殖数量;(4)效用值的封闭式表达式。我们将讨论这些分析结果如何为个人和政策制定者提供了对疾病动态的深入而直观的理解。特别是社会疏远与感染之间的关系代表了一种启发式,可以向大众传播,以鼓励或 "引导 "理性行为。
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引用次数: 0
Consistent Conjectures in Dynamic Matching Markets 动态匹配市场中的一致猜想
Pub Date : 2024-07-05 DOI: arxiv-2407.04857
Laura Doval, Pablo Schenone
We provide a framework to study stability notions for two-sided dynamicmatching markets in which matching is one-to-one and irreversible. Theframework gives centerstage to the set of matchings an agent anticipates wouldensue should they remain unmatched, which we refer to as the agent'sconjectures. A collection of conjectures, together with a pairwise stabilityand individual rationality requirement given the conjectures, defines asolution concept for the economy. We identify a sufficientcondition--consistency--for a family of conjectures to lead to a nonemptysolution (cf. Hafalir, 2008). As an application, we introduce two families ofconsistent conjectures and their corresponding solution concepts:continuation-value-respecting dynamic stability, and the extension to dynamicmarkets of the solution concept in Hafalir (2008), sophisticated dynamicstability.
我们为研究匹配是一对一和不可逆的双面动态匹配市场的稳定性概念提供了一个框架。该框架将代理预期的匹配集合置于中心位置,我们称之为代理的猜想(the agent's sconjectures)。一系列的猜想,加上给定猜想的成对稳定性和个体理性要求,定义了经济的解决方案概念。我们确定了一个充分条件--一致性--使一个猜想系列导致一个非空的解决方案(参见 Hafalir, 2008)。作为应用,我们介绍了两个一致性猜想系列及其相应的解概念:尊重延续值的动态稳定性,以及 Hafalir(2008)中的解概念在动态市场中的扩展,即复杂的动态稳定性。
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引用次数: 0
Information Greenhouse: Optimal Persuasion for Medical Test-Avoiders 信息温室:医学试验规避者的最佳说服力
Pub Date : 2024-07-03 DOI: arxiv-2407.02948
Zhuo Chen
Patients often delay or reject medical tests due to information avoidance,which hinders timely reception of necessary treatments. This paper studies theoptimal information policy to persuade an information-avoidant patient toundergo the test and make the best choice that maximizes his health. Thepatient sequentially decides whether to take the test and the optimal treatmentplan. The information provided is about the background knowledge of thedisease, which is complementary with the test result, and disclosure can takeplace both before and after the test decision. The optimal information policydepends on whether the patient is willing to be tested when he is completelypessimistic. If so, the optimal policy features textit{preemptive warning}:the disclosure only takes place before the test, and the bad news guaranteesthe patient to be tested and be treated even without further information. Ifnot, the optimal policy constructs an textit{information greenhouse}: aninformation structure that provides high anticipatory utility is committed whenthe patient is tested and the test result is bad. I consider extensions togeneral information preference and ex ante participation constraint.
患者常常因为信息回避而延迟或拒绝医学检查,这阻碍了他们及时接受必要的治疗。本文研究了最佳信息政策,以说服信息回避患者接受检查,并做出使其健康最大化的最佳选择。患者依次决定是否接受检查和最佳治疗方案。所提供的信息是关于疾病的背景知识,与检测结果相辅相成,信息披露可以在检测决定之前和之后进行。最佳信息政策取决于患者在完全悲观时是否愿意接受检测。如果是,最优政策的特点是:信息披露只在检测前进行,坏消息保证病人接受检测并在没有进一步信息的情况下接受治疗。如果不是这样,最优政策就会构建一个(textit{信息温室}:当病人接受检查且检查结果不好时,就会承诺提供高预期效用的信息结构。我考虑了一般信息偏好和事前参与约束的扩展。
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引用次数: 0
期刊
arXiv - ECON - Theoretical Economics
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