Showing 81 - 90 of 595
Many separable dynamic incentive problems have primal recursive formulations in which utility promises serve as state variables. We associate families of dual recursive problems with these by selectively dualizing constraints. We make transparent the connections between recursive primal and dual...
Persistent link: https://www.econbiz.de/10014184464
In real-life elections, vote-counting is often imperfect. We analyze the consequences of such imperfections in plurality and runoff rule voting games. We call a strategy profile a robust equilibrium if it is an equilibrium if the probability of a miscount is positive but small.All robust...
Persistent link: https://www.econbiz.de/10013127457
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/10013065831
We analyze a model in which voters learn over time their preferences regarding an irreversible social decision. Voters can either implement the project in the first period, or they can postpone the decision to the second period. We analyze the effects of different majority rules. We show that...
Persistent link: https://www.econbiz.de/10014221402
Persistent link: https://www.econbiz.de/10010171631
We analyze the optimal timing problem of an agenda setter who can propose a project that is then voted on by a committee. The payoff consists of a common stochastic component and an idiosyncratic component that differs among committee members. The agenda setter may be biased for or against the...
Persistent link: https://www.econbiz.de/10008626009
Persistent link: https://www.econbiz.de/10009215536
We introduce a framework of electoral competition in which voters have general preferences over candidatesʼ immutable characteristics (such as gender, race or previously committed policy positions) as well as their policy positions, which are flexible. Candidates are uncertain about the...
Persistent link: https://www.econbiz.de/10011049805
This paper provides a new explanation why several US states have implemented supermajority requirements for tax increases. We model a dynamic and stochastic OLG economy where individual preferences depend on age and change over time in a systematic way. In this setting, we show that the first...
Persistent link: https://www.econbiz.de/10010292004
In three chapters I study the formation of social networks, and the impact the structures that arise may have in various economic settings. First, I develop a model of social network formation with heterogeneous agents and incomplete information. The model predicts an equilibrium in which agents...
Persistent link: https://www.econbiz.de/10009477798