Efficient design of stochastic mechanisms
Endre Csóka · 2006
In this paper, we focus on the case when different players should cooperate while each of them has an own stochastic working process as private information, and the efficient cooperation would require the players to make decisions depending on the random events of others. Sceduling problems are a typical and important example. In this paper, we design a mechanism that implements a fully cooperative behaviour of risk-neutral agents. We will require the tool of communication, namely we allow such contracts that specify payments depending also on the communication between the parties. 1