The Optimal Timing of Procurement Decisions and Patent Allocations*
研究专利竞赛中社会激励与私人激励不一致的问题，设计了一个无需支付的机制，利用研究者的私人信息决定何时及向谁分配最终奖项的追求权，并通过迭代剔除劣势策略求解。
In a patent race, social incentives and private incentives may sometimes coincide and at other times diverge – too many researchers remain in the race. If the social planner cannot determine what stage the researchers have achieved, this informational constraint can result in a socially suboptimal outcome. We construct a mechanism in which a planner exploits the researchers' private information to determine when and to whom to allocate rights to pursue the final prize. This mechanism does not require any payments and, therefore, will not distort earlier investment incentives. It is solvable by the iterative elimination of dominated strategies.