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We examine the consequences of vote buying, assuming this practice were allowed and free of stigma. Two parties competing in a binary election may purchase votes in a sequential bidding game via up-front binding payments and/or campaign promises (platforms) that are contingent upon the outcome...
Persistent link: https://www.econbiz.de/10005118888
In order to model the subjective uncertainty of a player over the behavior strategies of an opponent, one must consider the player's beliefs about the opponent's play at information sets that the player thinks have probability zero. This corregendum uses “trembles†to provide a...
Persistent link: https://www.econbiz.de/10011139968
Game-theoretic analysis often leads to consideration of an infinite hierarchy of beliefs for each player. Harsanyi suggested that such a hierarchy of beliefs could be summarized in a single entity, called the player's type. This chapter provides an elementary construction, complementary to the...
Persistent link: https://www.econbiz.de/10011206453
Two properties of preferences and representations for choice under uncertainty which play an important role in decision theory are: (i) admissibility, the requirement that weakly dominated actions should not be chosen; and (ii) the existence of well defined conditional probabilities, that is,...
Persistent link: https://www.econbiz.de/10011206642
We discuss the unity between the two standard approaches to noncooperative solution concepts for games. The decision-theoretic approach starts from the assumption that the rationality of the players is common knowledge. This leads to the notion of correlated rationalizability. It is shown that...
Persistent link: https://www.econbiz.de/10011206697
Under sequential voting, voting late enables conditioning on which candidates are viable, while voting early can influence the field of candidates. But the latter effect can be harmful: shrinking the field increases not only the likelihood that future voters vote for one's favorite candidate,...
Persistent link: https://www.econbiz.de/10011206866
Persistent link: https://www.econbiz.de/10005574321