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We develop an analysis of voting rules that is robust in the sense that we do not make any assumption regarding voters' knowledge about each other. In dominant strategy voting rules, voters' behavior can be predicted uniquely without making any such assumption. However, on full domains, the only...
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Two agents must select one of three alternatives. Their ordinal rankings are commonly known and diametrically opposed. Efficiency requires choosing the alternative the agents rank second whenever the weighted sum of their von Neumann Morgenstern utilities is higher than under either agent's...
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This paper considers learning rules for environments in which little prior and feedback information is available to the decision maker. Two properties of such learning rules are studied: absolute expediency and monotonicity. Both require that some aspect of the decision maker's performance...
Persistent link: https://www.econbiz.de/10005170305
This paper analyses the procedures used by different European countries for awarding spectrum licences to potential operators of third generation (3G) mobile telephone networks. We contrast market-based methods, such as auctions, with bureaucratic methods, such as 'beauty contests'. They have...
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This paper considers learning rules for environments in which little prior and feedback information is available to the decision-maker. Two properties of such learning rules, absolute expediency and monotonicity, are studied. The paper provides some necessary and some sufficient conditions for...
Persistent link: https://www.econbiz.de/10005187572
This Paper studies bidding behaviour in the auction of radio spectrum for third generation mobile telephone services which took place in the United Kingdom in the spring of 2000. We show that several companies’ bidding behaviour deviates strongly from theoretical predictions. In particular...
Persistent link: https://www.econbiz.de/10005497790