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SP '03 Proceedings of the 2003 IEEE Symposium on Security and Privacy
ICDCS '04 Proceedings of the 24th International Conference on Distributed Computing Systems (ICDCS'04)
The Grid 2: Blueprint for a New Computing Infrastructure
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GRID '04 Proceedings of the 5th IEEE/ACM International Workshop on Grid Computing
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WINE '09 Proceedings of the 5th International Workshop on Internet and Network Economics
ISAAC'07 Proceedings of the 18th international conference on Algorithms and computation
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WINE'06 Proceedings of the Second international conference on Internet and Network Economics
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SAGT '09 Proceedings of the 2nd International Symposium on Algorithmic Game Theory
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Computing optimal contracts in combinatorial agencies
Theoretical Computer Science
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This paper studies the question of how to overcome inefficiencies due to hidden actions in a rational milieu, such as a grid computing system with open clientele. We consider the so-called principal-agent model known from economic theory, where the members (or agents) of a distributed system collaborate in complex ways. We adopt the perspective of the principal and investigate auditing mechanisms that incentivize participants to contribute more to a common project. As conducting audits might be costly, the principal must balance the tradeoff between low auditing costs and the level of incentives offered to the participants to exert high effort. We present optimal solutions for this optimization problem in scenarios, where the project success either depends on all, on any or on the majority of the participants succeeding in their subtask. In the first case, we further find that with an increasing principal valuation, there is exactly one transition point where the optimal choices for achieving the maximal principal utility switch. Compared to a combinatorial agency without the leverage of audits, this transition occurs earlier.