On the value of randomization

A-Tier
Journal: Journal of Economic Theory
Year: 2014
Volume: 151
Issue: C
Pages: 493-507

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

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

Abstract

The paper identifies a necessary and sufficient condition for a deterministic local optimum to be locally improved upon by a stochastic deviation. When this condition is satisfied, a method to construct the stochastic allocations that increase the objective is provided. This technique is applied to a number of adverse selection and moral hazard problems.

Technical Details

RePEc Handle
repec:eee:jetheo:v:151:y:2014:i:c:p:493-507
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25