Herein, we prove a Condorcet jury theorem (CJT) for large elections with multiple alternatives. Voters have common interests that depend on an unknown state of nature. Each voter receives an imprecise private signal about the state of nature and then submits one vote (simple plurality rule). We...

A competition authority has an objective, which specifies what output profile firms need to produce as a function of production costs. These costs change over time and are only known by the firms. The objective is implementable if inequilibrium, the firms cannot collude on their reports to the...

Mechanism design theory strongly relies on the concept of Nash equilibrium. However, studies of experimental games show that Nash equilibria are rarely played and that subjects may be thinking only a finite number of iterations. We study one of the most influential benchmarks of mechanism design...

This paper investigates the robustness of Dutta and Sen's (2012) Theorem 1 to weaker notions of truth-telling. An individual honesty standard is modeled as a subgroup of the society, including the individual herself, for which she feels truth-telling concerns. An individual i is honest when she...

We study repeated implementation in a model with overlapping generations of agents.It is assumed that the preferences of agents do not change during their lifetime.A social choice function selects an alternative in each period as a function of the preferences of agents who are alive in that...

Mechanism design theory strongly relies on the concept of Nash equilibrium. However, studies of experimental games show that Nash equilibria are rarely played and that subjects may be thinking only a finite number of iterations. We study one of the most influential benchmarks of mechanism design...

We look for necessary properties of shareholder-value maximizing corporate boards when shareholders face a trade-off between improving information sharing between the board and management and reducing distortions in decision-making arising out of managerial agency. We draw a distinction between...

Oratorical talent and the ability to forge unity and bipartisanship have been touted as important qualifications for our next president. Many assert these traits are necessary to lead us out of our current quagmires, e.g. recession, war, and the crisis in health care. This article examines the...

We study a social choice model with partially honest agents, and we show that strategy-proofness is a necessary and sufficient condition to achieve secure implementation. This result provides a behavioral foundation for the rectangularity property; and it offers as a by-product a revelation...

We study mechanisms for environments in which only some of the agents are directly connected to a mechanism designer and the other agents can participate in a mechanism only through the connected agents' referrals. In such environments, the mechanism designer and agents may have different...