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Persistent link: https://www.econbiz.de/10005408881
I analyze symmetric majority rule voting equilibria when voters wish to elect the better candidate and to vote for the winner. When voters care only about the winning candidate (the standard formulation) a unique responsive equilibrium exists. The addition of a desire to win creates multiple...
Persistent link: https://www.econbiz.de/10005409431
This paper provides a dual characterization of the existing ones for the limit set of perfect public equilibrium payoffs in a class of finite stochastic games (in particular, repeated games) as the discount factor tends to one. As a first corollary, the folk theorems of Fudenberg et al. (1994),...
Persistent link: https://www.econbiz.de/10011049759
This paper examines social learning when only one of the two types of decisions is observable. Because agents arrive randomly over time, and only those who invest are observed, later agents face a more complicated inference problem than in the standard model, as the absence of investment might...
Persistent link: https://www.econbiz.de/10011049889