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higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10011761639
higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10011777646
talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10012429976
higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination …
Persistent link: https://www.econbiz.de/10012928248
talk is one-way as the truthful reports facilitate desired coordination. …
Persistent link: https://www.econbiz.de/10011928897
Restricting attention to economic environments, we study implementation under perturbed better-response dynamics (BRD). A social choice function (SCF) is implementable in stochastically stable strategies of perturbed BRD whenever the only outcome supported by the stochastically stable strategies...
Persistent link: https://www.econbiz.de/10010317077
We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions in the direction of better-responses within a given institution. We offer results both under complete and incomplete information. First, we show that a necessary condition for...
Persistent link: https://www.econbiz.de/10010318980
, however, a conflict arises between efficiency and pairwise stability, due to a “size externality” not internalized by firms. …
Persistent link: https://www.econbiz.de/10010352416
This paper studies the equilibrating process of several implementation mecha-nisms using naive adaptive dynamics. We show that the dynamics converge and are stable, for the canonical mechanism of implementation in Nash equilibrium. In this way we cast some doubt on the criticism of complexity...
Persistent link: https://www.econbiz.de/10005417206
. Efficiency can be attained with a monopolist selling differentiated information, provided entry is blocked. …
Persistent link: https://www.econbiz.de/10010738052