Showing 1 - 10 of 216
We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of Ex Ante Vote-Trading Equilibrium, identify weak sufficient conditions for existence, and construct one such...
Persistent link: https://www.econbiz.de/10008533385
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/10009493272
experiments. In this paper, we establish important bounds on these results by examining the behavior of four distinct subject …
Persistent link: https://www.econbiz.de/10008614935
The provision of public goods often relies on voluntary contributions and cooperation. While most of the experimental literature focuses on individual contributions, many real-world problems involve the formation of institutions among subgroups (coalitions) of players. International agreements...
Persistent link: https://www.econbiz.de/10008634661
We present and experimentally test a mechanism that provides a simple, natural, low cost, and realistic solution to the problem of compliance with socially determined efficient actions, such as contributing to a public good. We note that small self-governing organizations often place enforcement...
Persistent link: https://www.econbiz.de/10009019669
This paper compares two methods to encourage socially optimal provision of a public good. We compare the efficacy of vigilante justice, as represented by peer-to-peer punishment, to delegated policing, as represented by the "hired gun" mechanism, to deter free riding and improve group welfare....
Persistent link: https://www.econbiz.de/10009019694
the literature. We characterize pure-strategy equilibria for arbitrary stochastic and deterministic social networks and …, there will be asymptotic learning an almost all reasonable social networks. We also show that for most network topologies …
Persistent link: https://www.econbiz.de/10005774491
Most economic analyses presume that there are limited differences in the prior beliefs of individuals, as assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian...
Persistent link: https://www.econbiz.de/10005777666
A commonly held view is that laboratory experiments provide researchers with more “control” than natural field … experiments, and that this advantage is to be balanced against the disadvantage that laboratory experiments are less generalizable …. This paper presents a simple model that explores circumstances under which natural field experiments provide researchers …
Persistent link: https://www.econbiz.de/10011133521
We conducted a laboratory experiment to test the comparative statics predictions of a new approach to collective action games based on the method of stability sets. We find robust support for the main theoretical predictions. As we increase the payoff of a successful collective action (accruing...
Persistent link: https://www.econbiz.de/10011165138