Assigning Resources to Budget-Constrained Agents
Event Details
Presenter
Ian Gale, Professor of Economics, Georgetown University
Abstract
This paper studies different methods of assigning a good to budget-constrained agents. Schemes that assign the good randomly and allow resale may outperform the competitive market in terms of Utilitarian efficiency. The socially optimal mechanism involves random assignment at a discount — an in-kind subsidy — and a cash incentive to discourage low-valuation individuals from claiming the good.
Date
Thursday, April 5, 2012
12:00 - 1:30 p.m.
Lunch will be provided.
Location
7th Floor Conference Room
1616 P St. NW
Washington, D.C. 20036
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