Showing 1 - 10 of 14
Previous work shows that reputation results may fail in repeated games between two long-run players with equal discount factors. We restrict attention to an infinitely repeated game where two players with equal discount factors play a simultaneous move stage game where actions of player 2 are...
Persistent link: https://www.econbiz.de/10008665869
Persistent link: https://www.econbiz.de/10015072120
Persistent link: https://www.econbiz.de/10013188164
We analyze delegation of a set of decisions over time by an informed principal to a potentially biased agent. Each period the principal observes a state of the world and sends a “cheap-talk” message to the agent, who is privately informed about her bias. We focus on principal-optimal...
Persistent link: https://www.econbiz.de/10011609923
We study elections with three candidates under plurality voting. A candidate is a Condorcet loser if the majority of the voters place that candidate at the bottom of their preference rankings. We first show that a Condorcet loser might win the election in a three-way race. Next we introduce to...
Persistent link: https://www.econbiz.de/10008665894
Persistent link: https://www.econbiz.de/10003856386
We study information aggregation with a biased election organizer who recruits voters at some cost. Voters are symmetric ex-ante and prefer policy a in state a and policy b in state B, but the organizer prefers policy a regardless of the state. Each recruited voter observes a private signal...
Persistent link: https://www.econbiz.de/10012929373
We introduce a class of two-player dynamic games to study the effectiveness of screening in a principal-agent problem. In every period, the principal chooses either to irreversibly stop the game or to continue, and the agent chooses an action if the principal chooses to continue. The agent's...
Persistent link: https://www.econbiz.de/10012832336
Persistent link: https://www.econbiz.de/10011813914
Persistent link: https://www.econbiz.de/10011814213