Information Acquisition Policies for Resource Allocation Among Multiple Agents
Published Online:1 Jun 1997https://doi.org/10.1287/isre.8.2.151
Abstract
This paper investigates a problem of resource allocation, where a manager allocates discrete resources among multiple agents in a team in a socially optimal manner. In making this allocation, the manager needs to understand the preference orders of the agents for the discrete resources. The manager does this by adopting an information acquisition policy. Three different information acquisition policies are investigated here. The trade off between the amount of information elicited and the costs involved are studied for each of the policies.
