Template-Type: ReDIF-Paper 1.0
Author-Name: Jens Gudmundsson
Author-Name-First: Jens
Author-Name-Last: Gudmundsson
Author-Email: jg@ifro.ku.dk
Author-Workplace-Name: Department of Food and Resource Economics, University of Copenhagen
Author-Name: Jens Leth Hougaard
Author-Name-First: Jens Leth
Author-Name-Last: Hougaard
Author-Email: jlh21@nyu.edu
Author-Email: jlh@ifro.ku.dk
Author-Workplace-Name: NYU-Shanghai, China
Author-Workplace-Name: Department of Food and Resource Economics, University of Copenhagen
Author-Name: Trine Tornøe Platz
Author-Name-First: Trine Tornøe
Author-Name-Last: Platz
Author-Email: ttp@ifro.ku.dk
Author-Workplace-Name: Department of Food and Resource Economics, University of Copenhagen
Title: Decentralized Task Coordination
Abstract: We study decentralized task coordination. Tasks are of varying complexity and agents asymmetric: agents capable of completing high-level tasks may also take on tasks originally contracted by lower-level agents, facilitating system-wide cost reductions. We suggest a family of decentralized two-stage mechanisms in which agents first announce preferred individual workloads and then bargain over the induced joint cost savings. The second-stage negotiations depend on the first-stage announcements as specified through the mechanism's recognition function. We characterize mechanisms that incentivize cost-effective task allocation and further single out a particular mechanism, which additionally ensures a fair distribution of the system-wide cost savings.
Length: 25 pages
Creation-Date: 2020-10
File-URL: http://okonomi.foi.dk/workingpapers/WPpdf/WP2020/IFRO_WP_2020_11.pdf
File-Format: Application/pdf
Number: 2020/11
Classification-JEL: C72, C78, D47, D63, D78
Keywords: Decentralized mechanisms, Implementation, Bargaining, Consistency, Blockchain
Handle: RePEc:foi:wpaper:2020_11