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This paper characterizes interim efficient mechanisms for public good production and cost allocation in a two-type environment with risk neutral, quasi-linear preferences and fixed size projects, where the distribution of the private good, as well as the public goods decision, affects social...
Persistent link: https://www.econbiz.de/10005407511
Bayesian Statisticians, decision theorists, and game theorists often use Bayesian representations to describe the probability distribution governing the evolution of a stochastic process. Generally, however, one given distribution has infinitely many different Bayesian representations. This...
Persistent link: https://www.econbiz.de/10005062366
Exploiting small uncertainties on the part of opponents, players in long, finitely repeated games can maintain false reputations that lead to a large variety of equilibrium outcomes. Even cooperation in a finitely repeated prisoners' dilemma is obtainable. Can such false reputations be...
Persistent link: https://www.econbiz.de/10005407541