Showing 1 - 10 of 76
Behavioral implementation studies implementation when agents' choices need not be rational. All existing papers of this literature, however, fail to handle a large class of choice behaviors because they rely on a well-known condition called Unanimity. This condition says, roughly speaking, that...
Persistent link: https://www.econbiz.de/10014551784
We consider a class of Dynkin games in the case where the underlying process evolves according to a one-dimensional but otherwise general diffusion. We establish general conditions under which both the value and the saddle point equilibrium exist and under which the exercise boundaries...
Persistent link: https://www.econbiz.de/10012502965
We study farsighted stability under the assumption that coalitions may condition actions on the history of the play. vNM stable set over possible play paths is defined with respect to the indirect dominance relation. We show that such dynamic stable set always exists. It is characterized by a...
Persistent link: https://www.econbiz.de/10012502976
We study the existence of pure strategy Nash equilibria in finite congestion and coordination games. Player set is divided into two disjoint groups, called men and women. A man choosing an action a is better off if the number of other men choosing a decreases, or if the number of women choosing...
Persistent link: https://www.econbiz.de/10012502982
We provide a simple characterization of the stationary subgame perfect equilibrium of an alternating offers bargaining game when the number of players increases without a limit. Core convergence literature is emulated by increasing the number of players by replication. The limit allocation is...
Persistent link: https://www.econbiz.de/10012502986
We study a dynamic vNM stable set in a compact metric space under the assumption of complete and continuous dominance relation. Internal and external stability are defined with respect to farsighted dominance. Stability of an outcome is conditioned on the history via which it is reached. A...
Persistent link: https://www.econbiz.de/10012502987
This paper studies allocations that can be implemented by an arbitrator subject to the constraint that the agents' outside option is to start bargaining by themselves. As the population becomes large, the set of implementable allocations shrinks to a singleton point - the conflict-free...
Persistent link: https://www.econbiz.de/10012502988
We study coalitional one-deviation principle in a framework a la Chwe (1994). The principle requires that an active coalition or any of its subcoalition will not benefit from a single deviation to a strategy that specifies, for each history of coalitional moves, an active coalition and its move....
Persistent link: https://www.econbiz.de/10012502989
We study infinitely repeated Prisoners' Dilemma, where one of the players may be demented. If a player gets demented in period t after his choice of action, he is stuck to this choice for the rest of the game. So if his last choice was "cooperate" just before dementia struck him, then he's bound...
Persistent link: https://www.econbiz.de/10012502997
We study auction design when parties cannot commit to the mechanism. The seller may change the rules of the game any number of times and the buyers may choose their outside option at any stage of the game. A dynamic consistency condition and an optimality condition property are defined to...
Persistent link: https://www.econbiz.de/10012502998