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In a spatial model of voting, a voter's utility for a candidate is a function of ideological distance from the candidate and a candidate's quality. Candidate quality can potentially bias the measure of ideological distance in two ways. First, voters may be more drawn to high quality candidates...
Persistent link: https://www.econbiz.de/10005079300
examples are devel- oped. Moreover, in the case of normal-form games, the relation between reactivity and dominance is …
Persistent link: https://www.econbiz.de/10008866151
theory must obey. Our criterion, Competitiveness, is a weaker version of a dominance principle. Despite its modesty …
Persistent link: https://www.econbiz.de/10011108437
The Axiom of Monotonicity (AM) is a necessary condition for a number of expected utility representations, including those obtained by de Finetti (1930), von Neumann and Morgenstern (1944) and Savage (1954). The paper reports on experiments that directly test AM by eliminating strategic...
Persistent link: https://www.econbiz.de/10008595618
We characterize the unique Markov perfect equilibrium of a tug-of-war without exogenous noise, in which players have the opportunity to engage in a sequence of battles in an attempt to win the war. Each battle is an all-pay auction in which the player expending the greater resources wins. In...
Persistent link: https://www.econbiz.de/10005785931
direct assumption that preferences have maximal elements on a fixed agenda. We show that the core of a simple game is … number of the game. The same is true if we replace the core by the core without majority dissatisfaction, obtained by … deleting from the agenda all the alternatives that are non-maximal for all players in a winning coalition. Unlike the core, the …
Persistent link: https://www.econbiz.de/10005837444
Twelve sets, proposed as social choice solution concepts, are compared: the core, five versions of the uncovered set …
Persistent link: https://www.econbiz.de/10011259698
neither arbitrarily small coalitions nor large coalitions are enough to block an allocation which is not in the core, due to … the core provided by Vind and Schmeidler (1972) to economies with asymmetrically informed traders. We then focus on … finest information. Finally, characterizations for the weak fine, the fine and the private core are obtained as particular …
Persistent link: https://www.econbiz.de/10009004814
question of core stability of the grand coalition, namely: is there a subset of bidders that prefers forming a small bidding … the grand coalition is not necessarily core stable, as opposed to the zero externality case, where the stability of the …
Persistent link: https://www.econbiz.de/10009211237
: (a) equivalence of the core and the set of competitive outcomes; (b) the Shapley value is contained in the core or … approximate cores; (c) the equal treatment property holds -- that is, both market equilibrium and the core treat similar players …
Persistent link: https://www.econbiz.de/10009328147