Orchestrating Information Acquisition

B-Tier
Journal: American Economic Journal: Microeconomics
Year: 2021
Volume: 13
Issue: 4
Pages: 420-65

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study how to orchestrate information acquisition in an environment where bidders endowed with original estimates ("types") about their private values can acquire further information by incurring a cost. We consider both single-round and fully sequential short-listing rules. The optimal single-round shortlisting rule admits the set of most efficient bidders that maximizes expected virtual surplus adjusted by the second-stage signal and information acquisition cost. When shortlisting is fully sequential, at each round, the most efficient remaining bidder is admitted provided that her conditional expected contribution to the virtual surplus is positive.

Technical Details

RePEc Handle
repec:aea:aejmic:v:13:y:2021:i:4:p:420-65
Journal Field
General
Author Count
3
Added to Database
2026-01-25