In this paper, we characterize all interior and boundary equilibria of the Groves- Ledyard mechanism for a large class of economies and demonstrate their stability or lack thereof. We prove that the mechanism implements large numbers of inefficient and stable boundary equilibria, one for each of...

In their seminal paper Groves and Ledyard (1976) construct a balanced incentive compatible mechanism that solves the free rider problem. In subsequent research, Bergstrom, Simon, and Titus (1983) prove that there exist numerous asymmetric equilibria in addition to the symmetric equilibrium. In...

In this paper, we characterize all interior and boundary equilibria of the Groves-Ledyard mechanism for a large class of economies and determine their stability properties. We show that the mechanism admits three types of equilibria: a symmetric, efficient, stable interior equilibrium, a large...

We introduce social interactions into the Schelling model of residential choice. These social interactions take the form of a Prisoner's Dilemma game played with neighbors. First, we study the Schelling model over a wide range of utility functions and then proceed to study a spatial Prisoner's...

Although many workers find employment through weak ties, previous studies have shown little empirical support for a connection between weak ties and income. In this article, I explain one reason why the survey methods used in previous studies underestimate, perhaps greatly, the effect of weak...

We develop a game theoretic model to analyze the Nash equilibrium of vaccine decisions in a hospital population with heterogeneous contacts. We use the model in conjunction with person-to-person contact data within a large university hospital. We simulate, using agent-based models, the...

Midtown Manhattan is the largest business district in the country. Yet only a few miles to the south is another district centered at Wall Street. This paper aims to understand when and why midtown emerged. We have created a new data set from historical New York City directories that provide the...

We study the effects of agent movement on equilibrium selection in network based spatial coordination games with Pareto dominant and risk dominant Nash equilibria. Our primary interest is in understanding how endogenous partner selection on networks influences equilibrium selection in games with...