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Ledoit, Olivier - Institut für Volkswirtschaftslehre, … - 2011

Democracy is defined by two core tenets: voice and pluralism. Within these constraints, a wide variety of regime types can be designed. We show that the only new, untested form of democracy is when every citizen is governed by the political party of his/her choice. Multiple full-fledged...

Persistent link: https://www.econbiz.de/10009358880

Local contraction-stability and uniqueness

Hefti, Andreas M. - Institut für Volkswirtschaftslehre, … - 2013

This paper investigates the relationship between uniqueness of Nash equilibria and local stability with respect to the …, local stability and uniqueness are the same formal properties of the game. With equilibrium substitutes, local stability is … equilibria of symmetric games more stable. Finally, the relationship between the stability of the Nash best-response dynamics is …

Persistent link: https://www.econbiz.de/10010817285

On uniqueness and stability of symmetric equilibria in differentiable symmetric games

Hefti, Andreas - Institut für Volkswirtschaftslehre, … - 2011

between stability and (in)existence of multiple symmetric equilibria. While there is an equivalence between stability … relationship breaks down in higher dimensions. Stability under symmetric adjustments is a minimum requirement of a symmetric …

Persistent link: https://www.econbiz.de/10009643463

A Note on the Impossibility of a Satisfactory Concept of Stability for Coalition Formation Games

Barberà, Salvador; Gerber, Anke - Institut für Volkswirtschaftslehre, …

In this note we show that no solution to coalition formation games can satisfy a set of axioms that we propose as reasonable. Our result points out that “solutions” to the coalition formation cannot be interpreted as predictions of what would be “resting points” for a game in the way...

Persistent link: https://www.econbiz.de/10005184889

Education and optimal dynamic taxation: The role of income-contingent student loans

Findeisen, Sebastian; Sachs, Dominik - Institut für Volkswirtschaftslehre, … - 2011

We study Pareto optimal tax and education policies when human capital upon labor market entry is endogenous and individuals face wage uncertainty. Though optimal labor distortions are history-dependent, i.e. depend on income and education, simple policy instruments can yield the desired...

Persistent link: https://www.econbiz.de/10009358882

All-pay auctions: Implementation and optimality

Schmutzler, Armin; Jönsson, Stefan - Institut für Volkswirtschaftslehre, … - 2013

This paper analyzes how all-pay auctions with endogenous prizes can be used to provide effort incentives. We show that wide classes of effort distributions can be implemented as equilibrium outcomes of such games. We also ask how all-pay auctions have to be structured so as to induce high...

Persistent link: https://www.econbiz.de/10010817271