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arXiv · 2408.10077

No Screening is More Efficient with Multiple Objects

Shunya Noda·Genta Okada
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Abstract

We study the welfare-maximizing allocation of heterogeneous objects when screening uses costly effort rather than monetary transfers. No-screening mechanisms perform well as object variety increases. In a symmetric continuous market with i.i.d. values whose CDF is log-concave, the multidimensional problem reduces exactly to a single-dimensional problem in agents' best-option values. More options make low best-option values rarer, weakening the case for screening. We characterize when no screening is optimal and show it remains optimal as variety expands. Large-variety limits and numerical results for finite, correlated markets support this pattern. We apply these results to propose an invitation-based vaccine appointment system.

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BibTeXRIS

Shunya Noda, Genta Okada. 2024-08-19. No Screening is More Efficient with Multiple Objects. https://arxiv.org/abs/2408.10077

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