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Information Acquisition Policies for Resource Allocation Among Multiple Agents

Author

Listed:
  • J. C. Moore

    (Krannert Graduate School of Management, Purdue University, W. Lafayette, Indiana 47907)

  • H. R. Rao

    (School of Management, State University of New York at Buffalo, Buffalo, New York 14260)

  • A. Whinston

    (MSIS, College of Business Administration, University of Texas at Austin, Austin, Texas 78712)

  • K. Nam

    (School of Management, State University of New York at Buffalo, Buffalo, New York 14260)

  • T. S. Raghu

    (School of Management, State University of New York at Buffalo, Buffalo, New York 14260)

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.

Suggested Citation

  • J. C. Moore & H. R. Rao & A. Whinston & K. Nam & T. S. Raghu, 1997. "Information Acquisition Policies for Resource Allocation Among Multiple Agents," Information Systems Research, INFORMS, vol. 8(2), pages 151-170, June.
    • Handle: RePEc:inm:orisre:v:8:y:1997:i:2:p:151-170
    DOI: 10.1287/isre.8.2.151
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    Cited by:

    1. de Reuver, Mark & Sørensen, Carsten & Basole, Rahul C., 2018. "The digital platform: a research agenda," LSE Research Online Documents on Economics 80669, London School of Economics and Political Science, LSE Library.
    2. Zhiqiang Zheng & Balaji Padmanabhan, 2006. "Selectively Acquiring Customer Information: A New Data Acquisition Problem and an Active Learning-Based Solution," Management Science, INFORMS, vol. 52(5), pages 697-712, May.

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