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We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging … literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We … order beliefs becomes a natural desideratum. We discuss recent approaches to robust mechanism design and robust …
Persistent link: https://www.econbiz.de/10005123850
the world copper market, from at least 1991 until earlier this year. This manipulation has concentrated attention on the … manipulation is not illegal under UK financial services regulation, but that in any case, deterrence is better than prosecution …. Manipulation will be best deterred by greater transparency, in particular through mandatory reporting of client positions to …
Persistent link: https://www.econbiz.de/10005662332
through both productive effort and costly manipulation, and may undo the contract by privately saving. The optimal contract …
Persistent link: https://www.econbiz.de/10008477185
randomization as part of a research design in the field. It first covers the rationale for the use of randomization, as a solution …
Persistent link: https://www.econbiz.de/10005504356
This paper both theoretically and experimentally studies the properties of plurality and approval voting when the majority is divided as a result of information imperfections. The minority backs a third alternative, which the majority views as strictly inferior. The majority thus faces two...
Persistent link: https://www.econbiz.de/10011083533
bubble. The results of the experiment suggest that the company’s attempt to exchange its shares for government debt was the …
Persistent link: https://www.econbiz.de/10011083988
Two groups of voters of known sizes disagree over a single binary decision to be taken by simple majority. Individuals have different, privately observed intensities of preferences and before voting can buy or sell votes among themselves for money. We study the implication of such trading for...
Persistent link: https://www.econbiz.de/10011084134
Theories abound for why individuals give to charity. We conduct a field experiment with donors to a Yale University … theories, we conduct a laboratory experiment with undergraduates, and found no evidence to support the alternative, altruistic …
Persistent link: https://www.econbiz.de/10011084285
The rational-voter model is often criticized on the grounds that two of its central predictions (the paradox of voting and Duverger's law) are at odds with reality. Recent theoretical advances suggest that these empirically unsound predictions might be an artifact of an assumption in those...
Persistent link: https://www.econbiz.de/10011196037
We use experiments to analyze what type of communication is most effective in achieving cooperation in a simple …
Persistent link: https://www.econbiz.de/10008558586