The Combinatorial Retention Auction Mechanism (CRAM)
MetadataShow full item record
We propose a reverse uniform price auction called Combinatorial Retention Auction Mechanism (CRAM) that integrates both monetary and non-monetary incentives (NMIs). CRAM computes the cash bonus and NMIs to a single cost parameter, retains the lowest cost employees and provides them with compensation equal to the cost of the first excluded employee. CRAM is dominant strategy incentive compatible. We provide optimal bidding strategy, and show that there is cost saving compared to a benchmark auction (monetary retention auction). Because CRAM and the benchmark may retain different employees, we provide for whom and under what conditions the utility may increase or decrease by CRAM. Finally, we show that there is an increase in the total social welfare by utilizing CRAM to the benchmark.
NPS Report NumberNPS-GSBPP-13-004
Showing items related by title, author, creator and subject.
The combinatorial retention auction mechanism (CRAM): integrating monetary and non-monetary reenlistment incentives Coughlan, Peter J.; Gates, William R.; Zimmerman, Brooke M. (Naval Postgraduate School, 2011-11); NPS-GSBPP-11-013This research addresses the potential retention and cost impacts of providing an optimal individualized portfolio of non-monetary and monetary incentives to influence reenlistment and retention behavioral in enlisted ...
Variability of valuation of non-monetary incentives motivating and implementing the Combinatorial Retention Auction Mechanism Ellis, Jason Blake (Monterey, California: Naval Postgraduate School, 2009-03);This thesis explores the concept of preference variability relative to non-monetary and monetary incentives in the Combinatorial Retention Auction Mechanism (CRAM). CRAM offers a mix of monetary and non-monetary incentives ...
Integrating monetary and non-monetary retention incentives for the U.S. Navy Dental Corps officers utilizing the Combinatorial Retention Auction Mechanism (CRAM) Kumar, Sandeep (Monterey, California. Naval Postgraduate School, 2010-03);This research focused on the Navy Dental Corps community because of the retention challenges encountered, especially at the senior Lieutenant and Lieutenant Commander Ranks. The Dental Corps has retention goals by accession ...