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Suppose that the goals of a society can be summarized in a social choice rule, i.e., a mapping from relevant underlying parameters to final outcomes. Typically, the underlying parameters (e.g., individual preferences) are private information to the agents in society. The implementation problem...
Persistent link: https://www.econbiz.de/10010318948
Suppose that the goals of a society can be summarized in a social choice rule, i.e., a mapping from relevant underlying parameters to final outcomes. Typically, the underlying parameters (e.g., individual preferences) are private information to the agents in society. The implementation problem...
Persistent link: https://www.econbiz.de/10014064932
Existing theoretical and experimental studies have established that unanimity is a poor decision rule for promoting information aggregation. Despite this, unanimity is frequently used in committees making decisions on behalf of society. This paper shows that when committee members are exposed to...
Persistent link: https://www.econbiz.de/10011696383
Recent literature has questioned the existence of a learning foundation for the partially cursed equilibrium. This paper closes the gap by showing that a partially cursed equilibrium corresponds to a particular analogy-based expectation equilibrium.
Persistent link: https://www.econbiz.de/10010266678
Recent literature has questioned the existence of a learning foundation for the partially cursed equilibrium. This paper closes the gap by showing that a partially cursed equilibrium corresponds to a particular analogy-based expectation equilibrium. -- Analogy expectations ; bounded rationality...
Persistent link: https://www.econbiz.de/10003803107
This chapter surveys voting game experiments that involve incomplete information with regard to voters’ opinions about what the best course of action might be and characteristics, especially their private costs and benefits related to decision making and their group affiliations (i.e., which...
Persistent link: https://www.econbiz.de/10014110217
In this paper we introduce incomplete information à la global games into a max-min two-group contest with binary actions and we characterize the set of equilibria. Depending on whether the complete information assumption is relaxed on the value of the prize or on the cost of providing effort,...
Persistent link: https://www.econbiz.de/10015083601
This article considers an asymmetric contest with incomplete information. There are two types of players: informed and uninformed. Each player has a different ability to translate effort into performance in terms of the contest success function. While one player's type is known to both players,...
Persistent link: https://www.econbiz.de/10009681207
Persistent link: https://www.econbiz.de/10002449416
Persistent link: https://www.econbiz.de/10001596359