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Informed-Principal Problem in Mechanisms with Limited Commitment
Kwon, Suehyun - 2019
This paper studies mechanism design with limited commitment where agents have persistent correlated types over the infinite horizon. The mechanism designer now faces the informed-principal problem in addition to usual issues with i.i.d. types. With an infinite horizon and nondurable good, there...
Persistent link: https://www.econbiz.de/10012892075
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All Symmetric Equilibria in Differential Games with Public Goods
Jaakkola, Niko - 2020
We characterise the entire set of symmetric stationary Markov-perfect Nash equilibria (MPE) in a differential game of public good investment, using the canonical problem of climate change as an example. We provide a sufficient and necessary condition for MPE and show how the entire set of MPE is...
Persistent link: https://www.econbiz.de/10012834996
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Dynamic Games of Common-Property Resource Exploitation When Self-Image Matters
Van Long, Ngo - 2019
The purpose of this paper is to model the influence of Kantian moral scruples in a dynamic environment. Our objectives are two-fold. Firstly, we investigate how a Nash equilibrium among agents who have moral scruples may ensure that the exploitation of a common property renewable resource is...
Persistent link: https://www.econbiz.de/10012860769
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Viable Nash Equilibria : An Experiment
Kim, Duk Gyoo; Min, Daehong; Wooders, John - 2022
This paper examines the usefulness of Kalai (2020)’s measure of the viability of Nash equilibrium. We experimentally study a class of participation games, which differ in the number of players, the success threshold, and the payoff to not participating. We find that Kalai’s measure captures...
Persistent link: https://www.econbiz.de/10014077192
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"A Game-Theoretic Analysis of Childhoof Vaccination Behavior : Nash Versus Kant"
De Donder, Philippe; Llavador, Humberto; Penczynski, Stefan - 2022
Whether or not to vaccinate one’s child is a decision that a parent may approach in several ways. The vaccination game, in which parents must choose whether to vaccinate a child against a disease, is one with positive externalities (herd immunity). In some societies, not vaccinating is an...
Persistent link: https://www.econbiz.de/10013308109
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Trade retaliation in a monetary-trade model
Whalley, John; Yu, Jun; Zhang, Shunming - 2009
We explore how outcomes of trade policy retaliation (Nash tariff games) are affected when trade simultaneously takes places geographically across countries and through time via financial intermediation. In such models deficits and surpluses in goods trade are endogenously determined, and...
Persistent link: https://www.econbiz.de/10010264539
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Optimal tariffs, retaliation and the welfare loss from tariff wars in the Melitz model
Felbermayr, Gabriel; Jung, Benjamin; Larch, Mario - 2011
This paper characterizes analytically the optimal tariff of a large one-sector economy with monopolistic competition and firm heterogeneity in general equilibrium, thereby extending the small-country results of Demidova and Rodriguez-Clare (JIE, 2009) and the homogeneous firms framework of Gros...
Persistent link: https://www.econbiz.de/10010274758
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Optimal Tax Problems with Multidimensional Heterogeneity : A Mechanism Design Approach
Jacquet, Laurence; Lehmann, Etienne - 2021
We propose a new method, that we call an allocation perturbation, to derive the optimal nonlinear income tax schedules with multidimensional individual characteristics on which taxes cannot be conditioned. It is well established that, when individuals differ in terms of preferences on top of...
Persistent link: https://www.econbiz.de/10013246473
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Mechanism Design with Narratives
Lang, Matthias - 2020
Individuals use narratives as rationales or justifications to make their claims more convincing. I provide a general framework for partial verifiability based on narratives. Narratives give many reasons and arguments. The receiver derives the message's meaning by aggregating these reasons; her...
Persistent link: https://www.econbiz.de/10012824823
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Paying to Match: Decentralized Markets with Information Frictions
Agranov, Marina; Dianat, Ahrash; Samuelson, Larry; … - 2021
We experimentally study decentralized one-to-one matching markets with transfers. We vary the information available to … markets often culminate in efficient matchings, stability is more elusive, reflecting the difficulty of arranging attendant … transfers. Second, incomplete information and submodularity present hurdles to efficiency and especially stability; their …
Persistent link: https://www.econbiz.de/10012492966