How can one efficiently share payoffs with collaborators when participating in risky research? First, I show that efficiency can be achieved by allocating payoffs asymmetrically between the researcher who makes a breakthrough ("winner") and the others, even if agents cannot observe others' effort. When the winner's identity is non-contractible, allocating credit based on effort at time of breakthrough also suffices to achieve efficiency; so the terminal effort profile, rather than the full history of effort, is a sufficient statistic. These findings suggest that simple mechanisms using minimal information are robust and effective in addressing inefficiencies in strategic experimentation.
Quantitative mode stability for the wave equation on the Kerr-Newman spacetime
Risk-Aware Objective-Based Forecasting in Inertia Management
Chainalysis: Geography of Cryptocurrency 2023
Periodicity in Cryptocurrency Volatility and Liquidity
Impact of Geometric Uncertainty on the Computation of Abdominal Aortic Aneurysm Wall Strain
Simulation-based Bayesian inference with ameliorative learned summary statistics -- Part I