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This paper studies optimal decision rules for a decision maker who can consult two experts in an environment without … environments with one expert. In order to derive optimal decision rules, we prove a "constant-threat" result that states that any …. A particular property of an optimal decision rule is that it is simple and constant for a large set of experts …
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In has been frequently observed, in both economics and psychology, that individuals tend to conform to the choices of other individuals with whom thy identify. Can such conformity be consistent with self-interested behaviour? To address this question we use the framework of games with incomplete...
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This paper analyzes farsighted stable sets when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying two properties of path-persistence and consistency. We show that farsighted stable sets with heterogeneous expectations always exist and...
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