Aligned Delegation

Abstract

A principal delegates multiple decisions to an agent, who has private information relevant to each decision. The principal is uncertain about the agent's preferences. I solve for max-min optimal mechanisms—those which maximize the principal's payoff against the worst case agent preference types. These mechanisms are characterized by a property I call “aligned delegation”: all agent types play identically, as if they shared the principal's preferences. Max-min optimal mechanisms may take the simple forms of ranking mechanisms, budgets, or sequential quotas. (JEL D44, D83, J16)

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