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Adverse selection in procurement arises when low-cost bidders are also low-quality suppliers. We propose a mechanism called LoLA (lowball lottery auction) which, under some conditions, maximizes any combination of buyer's and social surplus, ...
We propose a mechanism called LoLA (lowball lottery auction) which, under some conditions, maximizes any combination of buyer's and social surplus, subject to incentive compatibility, in the presence of adverse selection. The LoLA features a floor price, and a reserve price. The LoLA has a ...
Giuseppe Lopomo, Nicola Persico and Alessandro T. Villa Adverse selection in procurement arises when low-cost bidders are also low-quality suppliers. We propose a mechanism called LoLA (lowball lottery auction) which, under some conditions, maximizes any combination of buyer's and social surplus, ...
Saari has been widely quoted as an expert in voting methods and lottery odds. Birthplace: Houghton, Michigan James Joseph Sylvester Dec. at 82 (1814-1897) James Joseph Sylvester FRS HFRSE LLD (3 September 1814 – 15 March 1897) was an English mathematician. He ...
57.Conscription and Crime: Evidence from the Argentine Draft Lottery 机译:征兵与犯罪:阿根廷彩票草案的证据 作者:Sebastian Galiani;Martin A. Rossi;Ernesto Schargrodsky 期刊名称:《American economic journal》 | 2011年第2期 58.Purchasing Power Parity Exchange Rates for the Global Poor 机译:全球穷人...
Pete had won a park housing lottery with use of a cottage within Mammoth upon the famous “Soapsuds Row”. Former officer’s quarters, plenty of room, it may have been a Craftsman kit house. Perfect location! I stayed that summer, getting a piano gig in the restaurant four days a week...
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4. Title: Optimal Procurement with Quality Concerns. Authors: Giuseppe Lopomo; Nicola Persico; Alessandro T. Villa Abstract:Adverse selection in procurement arises when low-cost bidders are also low-quality suppliers. We propose a mec...