Incentivizing Participation in Clinical Trials
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The difficulty of recruiting patients is a well-known issue in clinical trials which inhibits or sometimes precludes them in practice. We incentivize participation in clinical trials by leveraging information asymmetry between the trial and the patients. We obtain an optimal solution in terms of the statistical performance of the trial, as expressed by an estimation error. Namely, we provide an incentive-compatible mechanism with a particular guarantee, and a nearly matching impossibility result for any incentive-compatible mechanism.
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