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Inefficiency in private value bargaining with naive players : an experimental study

Possajennikov, Alexandre; Saran, Rene - 2018

no equilibrium achieving full efficiency. In the experiment, we vary the proportion of naive traders by introducing … computerized players. We find that full efficiency is not achieved in the experiment with or without naive traders, and efficiency … experiment participants, and that allowing face-to-face pre-play communication increases efficiency although still not to the …

Persistent link: https://www.econbiz.de/10011852503

A full characterization of all deterministic dominant strategy incentive compatible, ex-post individually rational, and ex-post budget balanced direct mechanisms in the public good provision problem with independent private values

Kuzmics, Christoph - 2014

In this note I give a full characterization of all deterministic direct mechanisms in the public good provision problem with independent private values that are dominant strategy incentive compatible, ex-post individually rational, and ex-post budget balanced.

Persistent link: https://www.econbiz.de/10010337703

The design of ambiguous mechanisms

Di Tillio, Alfredo; Kos, Nenad; Messner, Matthias - 2014

This paper explores the sale of an object to an ambiguity averse buyer. We show that the seller can increase his profit by using an ambiguous mechanism. That is, the seller can benefit from hiding certain features of the mechanism that he has committed to from the agent. We then characterize the...

Persistent link: https://www.econbiz.de/10010399062

Selling to the mean

Kos, Nenad; Messner, Matthias - 2015

We study optimal selling strategies of a seller who is poorly informed about the buyer’s value for the object. When the maxmin seller only knows that the mean of the distribution of the buyer's valuations belongs to some interval then nature can keep him to payoff zero no matter how much...

Persistent link: https://www.econbiz.de/10011298549

Mechanisms with referrals: VCG mechanisms and multilevel mechanisms

Lee, Joosung - 2017

We study mechanisms for environments in which only some of the agents are directly connected to a mechanism designer and the other agents can participate in a mechanism only through the connected agents' referrals. In such environments, the mechanism designer and agents may have different...

Persistent link: https://www.econbiz.de/10011660366

A non-differentiable approach to revenue equivalence

Chung, Kim-sau; Olszewski, Wojciech - In: Theoretical economics : TE ; an open access journal in … 2 (2007) 4, pp. 469-487

We give a sufficient condition on the type space for revenue equivalence when the set of social alternatives consists of probability distributions over a finite set. Types are identified with real-valued functions that assign valuations to elements of this finite set, and the type space is...

Persistent link: https://www.econbiz.de/10011702275

Simple sequencing problems with interdependent costs

Hain, Roland; Mitra, Manipushpak - 2001

Persistent link: https://www.econbiz.de/10001603075

Incomplete information and multiple machine queueing problems

Mitra, Manipushpak - 2001

Persistent link: https://www.econbiz.de/10001603077

A Theory of Simplicity in Games and Mechanism Design

Pycia, Marek; Troyan, Peter - 2021

We introduce a general class of simplicity standards that vary the foresight abilities required of agents in extensive-form games. Rather than planning for the entire future of a game, agents are presumed to be able to plan only for those histories they view as simple from their current...

Persistent link: https://www.econbiz.de/10013220157

Ignorance is Bliss : Matching in Auctions with an Uninformed Seller

Lamping, Jennifer - 2010

In many auctions, matching between the bidder and seller raises the value of the contract for both parties. However, information about the quality of the match may be incomplete. We consider the case in which each bidder observes the quality of his match with the seller but the seller does not...

Persistent link: https://www.econbiz.de/10013139399