Winston T. H. Koh

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This paper studies the allocative efficiency of two non-price allocation mechanisms — the lottery (random allocation) and the waiting-line auction (queue system) — for the cases where individuals possess identical time costs (the homogeneous case), and where time costs are correlated with valuations (the heterogeneous case). The relative efficiency of the(More)
This paper studies collective decision making in the context of a project selection model. We derive the optimal decision architecture when marginal decision costs are present, and investigate the circumstances under which the hierarchy and polyarchy exist as optimal sequential architectures. Our analysis extends previous results on optimal committee(More)
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