Efficient Teamwork
نویسنده
چکیده
In dynamic stochastic environments, dynamic decision-making is necessary for effi-ciency. We consider multi-agent projects where each agent has hidden abilities, actionsand chance events. Here, efficient dynamic decision-making means that all agents shouldtruthfully reveal their private information, and they should make all their hidden actionsaccording to the efficient dynamic plan. But agents can easily cheat, e.g. by exerting lowerefforts, reporting optimistic stochastic predictions, or reporting higher costs for being flex-ible. In this paper, we solve this problem by constructing a mechanism that implementsefficiency in quasi-dominant equilibrium, provided that we can select the participatingagents by a tender, and the agents have private values. Another version of the mech-anism is collusion-resistant but only approximately efficient. The mechanism is widelyapplicable, and the major application details will be elaborated.
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