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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/10010358277
We consider collective decisions made by agents whose preferences and power depend on past events and decisions. Faced with an ineffcient equilibrium and an opportunity to commit to a policy, can the agents reach an agreement on such a policy? Under an intuitive condition linking power...
Persistent link: https://www.econbiz.de/10011375836
It has long been known that when agents have von Neumann-Morgenstern preferences over lotteries, there is an incompatibility between strategy-proofness and efficiency (Gibbard, [9]; Hylland, [12]) - a solution satisfying those properties must be dictatorial. We strengthen this result by showing...
Persistent link: https://www.econbiz.de/10014194818
We consider a connection networks model. Every agent has a demand in the form of pairs of locations she wants connected, and a willingness to pay for connectivity. A planner aims at implementing a welfare maximizing network and allocating the resulting cost, but information is asymmetric: agents...
Persistent link: https://www.econbiz.de/10012242016
The Maskin's theorem is a fundamental work in the theory of mechanism design. In this paper, we propose that if agents report messages to the designer through channels (e.g., Internet), agents can construct a self-enforcing agreement such that any Pareto-inefficient social choice rule satisfying...
Persistent link: https://www.econbiz.de/10013105581
but does not usually achieve global efficiency. The FRP-Core has support from both cooperative and noncooperative games …
Persistent link: https://www.econbiz.de/10011694996
This paper studies the application of the notion of secure implementation (Cason, Saijo, Sj¨ostr¨om, and Yamato, 2006; Saijo, Sj¨ostr¨om, and Yamato, 2007) to the problem of allocating indivisible objects with monetary transfers. We propose a new domain-richness condition, termed as minimal...
Persistent link: https://www.econbiz.de/10003556299
Does a disadvantaged candidate always choose an extremist program? When does a less competent candidate have an incentive to move to extreme positions in order to differentiate himself from the more competent candidate? If the answer to these questions were positive, as suggested in recent work...
Persistent link: https://www.econbiz.de/10012733444
We show that a simple game form, which resembles the "Divide-and-Choose" procedure, Nash-implements the no-envy solution on domains of economies where the set of feasible allocations is symmetric (an allocation obtained from a feasible allocation by interchanging the bundles of two agents is...
Persistent link: https://www.econbiz.de/10013004096
This paper studies the possibility of secure implementation (Saijo, T., T. Sjöström, and T. Yamato (2007) "Secure Implementation," Theoretical Economics 2, pp. 203-229) in divisible and non-excludable public good economies with quasi-linear utility functions. Although Saijo, Sjöström, and...
Persistent link: https://www.econbiz.de/10013006248