Making an Appraiser Work for You
Speaker
Erel Segal-Halevi
Date
22/05/2018 - 13:00 - 11:30Add To Calendar
2018-05-22 11:30:00
2018-05-22 13:00:00
Making an Appraiser Work for You
Paper: https://arxiv.org/abs/1804.08314
You own an item and want to know its value. There is an appraiser who can calculate the value by investing some work. You want to convince the appraiser to invest this work and tell you the value. Unfortunately you have no way to verify that the appraiser's report is correct. Therefore, if you simply pay the appraiser the cost of doing the work in cash, he can take the cash and report some random value instead of doing the work. I will show a mechanism by which you can incentivize the appraiser to actually work and report the true value.
Joint work with Shani Alokbi, Dudi Sarne and Tomer Sharbaf.
Economics building (504), faculty lounge on the first floor
אוניברסיטת בר-אילן - Department of Economics
Economics.Dept@mail.biu.ac.il
Asia/Jerusalem
public
Place
Economics building (504), faculty lounge on the first floor
Affiliation
Ariel University
Abstract
You own an item and want to know its value. There is an appraiser who can calculate the value by investing some work. You want to convince the appraiser to invest this work and tell you the value. Unfortunately you have no way to verify that the appraiser's report is correct. Therefore, if you simply pay the appraiser the cost of doing the work in cash, he can take the cash and report some random value instead of doing the work. I will show a mechanism by which you can incentivize the appraiser to actually work and report the true value.
Joint work with Shani Alokbi, Dudi Sarne and Tomer Sharbaf.
Last Updated Date : 04/12/2022
