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A profit maximising auctioneer can provide a public good to a group of agents. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides the good to the group, only if the sum of their bids exceeds a reserve...
Persistent link: https://www.econbiz.de/10005779432
We study political competition in an environment in which voters have private information about their preferences. Our framework covers models of income taxation, public-goods provision or publicly provided private goods. Politicians are vote-share-maximizers. They can propose any policy that is...
Persistent link: https://www.econbiz.de/10010779412
We modify the provision point mechanism by introducing reward money, which is distributed among the contributors in proportion to their contributions only when the provision point is not reached. In equilibrium, the provision point is always reached as competition for reward money and preference...
Persistent link: https://www.econbiz.de/10010722771
A profit-maximizing auctioneer can provide a public good to at most one of a number of groups of agents. The groups may have non-empty intersections. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides...
Persistent link: https://www.econbiz.de/10005043652
A profit-maximizing auctioneer can provide a public good to a group of agents. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides the good to the group, only if the sum of their bids exceeds a reserve...
Persistent link: https://www.econbiz.de/10005008302
A profit-maximizing auctioneer can provide a public good to a group of agents. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides the good to the group, only if the sum of their bids exceeds a reserve...
Persistent link: https://www.econbiz.de/10005118539
A profit-maximizing auctioneer can provide a public good to at most one of a number of groups of agents. The groups may have non-empty intersections. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides...
Persistent link: https://www.econbiz.de/10005779435
, despite the absence of free-riding incentives. In a laboratory experiment, subjects indeed under-contribute relative to …
Persistent link: https://www.econbiz.de/10011109699
, despite the absence of free-riding incentives. In a laboratory experiment, contributions indeed fall short of the equilibrium …
Persistent link: https://www.econbiz.de/10011190981
Game theory provides predictions of behavior in many one-shot games. On the other hand, most experimenters usually play repeated games with subjects, to provide experience. To avoid subjects rationally employing strategies that are appropriate for the repeated game, experimenters typically...
Persistent link: https://www.econbiz.de/10005551521