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We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy … and the market generates welfare losses, relative to simple majority voting, if the committee is large enough. We test the …
Persistent link: https://www.econbiz.de/10008534095
referendum, because voting may facilitate coordination due to signaling and commitment effects. We find that voting does have …
Persistent link: https://www.econbiz.de/10010625733
have different, privately observed intensities of preferences and before voting can buy or sell votes among themselves for …
Persistent link: https://www.econbiz.de/10011084134
This paper justifies the evolution of the college admissions system in China from a mechanism design perspective. The sequential choice algorithm and the parallel choice algorithm used in the context of China's college admissions system are formulated as the well-studied Boston mechanism and the...
Persistent link: https://www.econbiz.de/10010931704
Online labor markets have great potential as platforms for conducting experiments, as they provide immediate access to … experiments can be just as valid - both internally and externally - as laboratory and field experiments, while requiring far less … money and time to design and to conduct. In this paper, we first describe the benefits of conducting experiments in online …
Persistent link: https://www.econbiz.de/10008628361
In Poisson games, an extension of perfect equilibrium based on perturbations of the strategy space does not guarantee that players use admissible actions. This observation suggests that such a class of perturbations is not the correct one. We characterize the right space of perturbations to...
Persistent link: https://www.econbiz.de/10010930789
political phenomena that ensued is presented. In the case of sophisticated voting over certain kinds of binary agendas, such as … sometimes yield “sophisticated sincerity”, where equilibrium voting behavior is indistinguishable from sincere voting. Under … behave leads to probabilistic voting models that typically yield utilitarian outcomes. Uncertainty among the voters over …
Persistent link: https://www.econbiz.de/10014024486
This survey explores the contributions of behavioral economics, laboratory experiments, and field experiments to our … of theory and experiments that have identified trust and reciprocity in economics and human behavior. …
Persistent link: https://www.econbiz.de/10010960086
pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without …
Persistent link: https://www.econbiz.de/10005123667
This Paper discovers significant differences between southern and northern Europeans in a dynamic version of the ‘trust game’ played by Ph.D. students from different nationalities at the European University Institute. Our version of the trust game allows subjects to choose the receivers to...
Persistent link: https://www.econbiz.de/10005067472