Showing 1 - 10 of 2,548
We study full implementation with evidence in an environment with bounded utilities. We show that a social choice function is Nash implementable in a direct revelation mechanism if and only if it satisfies the measurability condition proposed by Ben-Porath and Lipman (2012). Building on a novel...
Persistent link: https://www.econbiz.de/10014576714
A new mechanism was introduced in New York City and Boston to assign students to public schools. This mechanism was advocated for its superior fairness property, besides others. We introduce a new framework for school-choice problems and two notions of fairness in lottery design based on ex-ante...
Persistent link: https://www.econbiz.de/10011673364
This paper introduces a mechanism design approach that allows dealing with the multiple equilibrium problem, using mechanisms that are robust to bounded rationality. This approach is a tool for constructing supermodular mechanisms, i.e. mechanisms that induce games with strategic...
Persistent link: https://www.econbiz.de/10011695244
We generalize the canonical problem of Nash implementation by allowing agents to voluntarily provide discriminatory signals, i.e. evidence. Evidence can either take the form of hard information or, more generally, have differential but non-prohibitive costs in different states. In such...
Persistent link: https://www.econbiz.de/10011690726
We study a multi-dimensional collective decision under incomplete information. Agents have Euclidean preferences and vote by simple majority on each issue (dimension), yielding the coordinate-wise median. Judicious rotations of the orthogonal axes -- the issues that are voted upon -- lead to...
Persistent link: https://www.econbiz.de/10012022742
The paper considers a voting model where each voter's type is her preference. The type graph for a voter is a graph whose vertices are the possible types of the voter. Two vertices are connected by an edge in the graph if the associated types are "neighbors." A social choice function is locally...
Persistent link: https://www.econbiz.de/10012806446
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
We study intermediaries who seek to maximize gains from trade in bilateral negotiations. Intermediaries are players: they cannot commit to act against their objective function and deny, in some cases, trade they believe to be beneficial. This impairs their ability to assist the parties relative...
Persistent link: https://www.econbiz.de/10012806593
We study the informed-principal problem in a bilateral asymmetric information trading setting with interdependent values and quasi-linear utilities. The informed seller proposes a mechanism and voluntarily certifies information about the good's characteristics. When the set of certifiable...
Persistent link: https://www.econbiz.de/10012022727
This paper provides a complete characterization of equilibria in a game-theoretic version of Rothschild and Stiglitz's (1976) model of competitive insurance. I allow for stochastic contract offers by insurance firms and show that a unique symmetric equilibrium always exists. Exact conditions...
Persistent link: https://www.econbiz.de/10011744297